At the end of the year, 31 December 201X, the unadjusted trial balance of Angel Company included the following accounts: (a) (i) If Angel Company uses the Statement of Financial Position Approach to estimate uncollectible accounts, and aging the accounts receivable indicates the estimated uncollectible portion to be $6,075, what will the Impairment Loss of Receivable for the year be? (ii)Show the adjusting entry at year-end to record the Impairment Loss of Receivable for the year. (iii) The Accounts Receivable presented in the Angel Company's Statement of Financial Position at 12/31/201X would be: (b) (i) If Angel Company uses income statement approach to estimating the uncollectible accounts, and the estimated uncollectible is to be 1% of net credit sales, what is the amount of the Impairment Loss of Receivable for the year? (Round to integer: (ii) Show the adjusting entry at year-end to record the Impaiment Loss of Receivable for the year. (iii) The Accounts Receivable presented in the Angel Company's Statement of Financial Position at 12/31/201X would be: Question 2 (past paper) On 1 November, 2016, Eastern Company wrote off an account receivable of HK $10,300 as worthless because of the banknuptcy of the client, Western Company. However, this amount was subsequently collected in full on 3 December, 2016. Required: Prepare the journal entries that Eastern Company would make upon the collection on 3 December, 2016