b$)$ Prepare the accounts receivable control account as it would appear in the general ledger at the end of the reporting period, together with the related subsidiary ledger. Provide the accounts payable control account as per the general ledger at the end of the financial year and the subsidiary ledger.

c$)$ Prepare general journal entries to record the following information.

$1.$ Office supplies on hand at $30$ June total $$900$

$2.$ The one$-$year general insurance policy expires on $31$ October $2023$

$3.$ Equipment has a useful life of $4$ years with no residual value. Store furniture and printer have useful life of $5$ years with no residual value. Scallion Ltd uses straight$-$line depreciation for these assets. $($Round all depreciation amounts upwards to nearest whole $$).$

$4.$ Commission revenue of $$39600$ has accrued during June

$5.$ Inventory at $30$ June is $$28800$

Additional Information

At the end of the $2023$ financial year, Scallion Ltd identified the following items that need to be resolved before financial statements are prepared. GST has been correctly accounted for on these non$-$current asset transactions.

$1.$ On $1$st July $2022,$ Scallion Ltd purchased a used machine for $$65,000$ cash. The cost was debited to the $$Machinery$$ account in the ledger. Prior to use, additional expenses were incurred for installing and testing the machine. These costs amounted to $$7,400$ and were debited to the $$repairs and maintenance expenses$$ account. The installation and testing was completed on $1$st October $2022,$ and the machine was brought into use on that date. The machine has an estimated useful life of $5$ years, with a residual value of $$6,000.$ Scallion uses straight$-$line depreciation for machinery and records depreciation to the nearest month. No depreciation has yet been provided in respect of this asset in the current year.

$2.$ On $2$nd July $2022,$ a small building and land were purchased for $$350,000.$ The purchase price was determined by appraisers based on a fair value of $$250,000$ for the land, and $$100,000$ for the building. The total purchase consideration of $$350,000$ was debited to the $$land$$ account. The building has an estimated useful life of $10$ years with no residual. Scallion uses straight line depreciation for buildings. No depreciation has yet been provided for the building in the current year. On $1$ June $2023,$ Scallion decided to adopt the revaluation model and to measure its land and buildings at fair value in the balance sheet. A valuation was carried out on $30$ June $2023,$ and the land was valued at $$295,000,$ and the building was valued at $$120,000.$ No entries have yet been passed in relation to these fair values. The fair value of the land and retail store acquired on $1$st June $2023$ had not changed.

$3.$ A new truck was purchased on $31$st March $2023.$ Scallion Ltd paid cash of $$46,100.$ The truck has an estimated useful life of $4$ years with a residual value of $$13,300$ and is to be depreciated using the reducing balance method $($using a rate of $1\mathrm{.}5$ times the straight$-$line rate$).$ No depreciation has yet been provided in respect of this asset in the current year.

REQUIRED:

$1.$ Prepare any adjusting or correcting entries required as at $30$ June $2023$ in relation to the additional information provided above.

$2.$ Any entries necessary in respect of depreciation for each class of non$-$current assets discussed in the information given for the year ended $30$ June $2023$

$3.$ Scallion Ltd uses the allowance method of accounting for bad debts. One percent of net credit sales is estimated to be uncollectable for the year ended $30$ June $2023($round amount upward to nearest whole $$).$ On $30$ June, Scallion Ltd was notified by the lawyers of Croft Ltd that they had been declared bankrupt and were unable to pay the amount owing. This debt was subsequently written off.