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2. Along Trading has the following account balances as at 30 June 20X3. RM Accounts receivable Allowance for doubtful debts 200,000 6,000 On 30 June
2. Along Trading has the following account balances as at 30 June 20X3. RM Accounts receivable Allowance for doubtful debts 200,000 6,000 On 30 June 20x3, the following adjustments have to be made: (a) Debts of RM500 are to be written off as bad. (b) One of the entities with accounts receivable whose debts had previously been written off as bad sent a cheque for RM1,000 in full settlement of the amount owed. (c) Allowance for doubtful debts is 2% of the outstanding accounts receivable. For the year ending 30 June 20X3, show the (1) allowance for doubtful debts account. (1) statement of profit or loss (extract) (it) statement of financial position (extract)
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