and (ii) aging of receivables. By 30 June 2018, these information and estimates have been compiled by the accountants: $2000 Allowance for bad debts (30 June 2017) Total sales Cash sales $1700000 $850000 Over this financial year, these accounts are confirmed to be uncollectible but yet to be recorded: Accounts receivable - Impa $600 Accounts receivable - Lasli $700 Accounts receivable - Paya $1000 Based on industry experience, 3% of credit sales are uncollectible. Based on industry experience, the following ageing analysis of accounts receivable is prepared: Outstanding accounts Bad debt Age receivable likelihood 0-30 days $120000 1% 31-60 days $70000 5% 61 days + $60000 20% 1. Journalise all the above bad debt transactions using percentage of sales method Write-offs Account name Debit $ Credit $ Bad debts expense 2300 Impa: Accounts receivable 600 Lasli: Accounts receivable 700 Paya: Accounts receivable 1000 Bad debts Account name Debit Credit expense $ $ Bad debts expense 2300 Accounts receivable 2300 2. Using the percentage of sales method, how much will the company show for net accounts receivables? $ 3. Journalise all the above bad debt transactions using ageing of receivables method Write-offs Account name Debit $ Credit $ . Impa: Lasli: . Paya: Bad debts Account name expense Debit Credit $ $ . 4. Using the ageing of receivables method, how much will the company show for net accounts receivables? $ $ 5. Assuming this company had used direct write-off method, how much would the company show for bad debt expense on their income statement? $