4C- Revenue recognition (2marks) Arad Itd. is a golf club and began its operation on January 1, 2020. The following information is provided for years 2020 and 2021: 1-Collected $400,000 cash in 2020 from members for membership fees. 70% of these -membership fees were used in 2020, the reminders were used in 2021. 2-Collected $800,000 cash in 2021 from members for membership fees. 80% of these membership fees were used in 2021, the reminder will be used in 202 Required Calculate unearned revenue balance at end 2020 and sales revenue recognized in 2021. 4B- Aging method (3marks) Alpha Ltd. uses the aging of accounts receivable method to arrive at an estimate of bad debt expense. After classifying its accounts receivable by how long the receivable has been outstanding, or age of the receivable, it prepares the following aging schedule: Days Past Due Customer Aaron, R. Baxter, T. Clark, J. David, A. Zak, R. Total % Un collectible Estimated uncollectible amount? Not Yet Total A/R Due 1-30 31-60 61-90 Over 90 Balance S 250 $ 250 $ 1,200 300 1,340 $ 2,840 2,000 $ 800 S 200 S 500 $ 3,500 200 $ 200 830 740 $ 1,570 $ 1,200 $ 2,550 $ 1,830 $ 1,540 S 1,240 $ 8,360 1 % 49% 10% 25% 40% REQUIRED. Calculate bad debt expense for the current year assuming that the Allowance for Doubtful Accounts currently has a $1,000 credit balance