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ABC Publishing Ltd sells a monthly political journal on credit. The accounting at 30*E1 June 2010 revealed the following: 2:: unaalleatc V2 2 l O
ABC Publishing Ltd sells a monthly political journal on credit. The accounting at 30*E1 June 2010 revealed the following: 2:: unaalleatc V2 2 l O 25 40 Accounts receivable $ 323 500 Allowance for Doubtful Debts i 500 The following analysis was obtained with respect to the accounts receivable: Balance Accounts not yet due $ l?3 600 Accounts overdue: 1030 days 60 000 Ell60 days 42 000 6ll20 davs 26 400 121 davs & over 21 500 i 323 500 Raquhad to] Prepare the necessarv general journal entry to bring the allowance for doubtful debts to the appropriate amount at 30th June 20l 0. {b} Prepare and balance the Allowance for Doubtful Debts account and the Bad Debts Expense account for the year ending 30*\" June 2010
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