Calculate the carrying amount and the tax base of the following assets and liabilities as of $30$ June $2024$ for the Reckon Group of Industries using the provided table. For each item, give an explanation for each step why you did it:

Account $|$ Carrying Amount $|$ Taxable Amount $|$ Deductible Amount $|$ Tax Base

In July $2023,$ the company capitalized $$750,000$ incurred in designing improved hearing aids. Expenditure on research and development is fully deductible for tax purposes when paid but is amortized over five years for accounting purposes.

Borrowing costs associated with financing land held for resale have been capitalized. The borrowing costs paid in June $2024$ amounted to $$50,000$ and will be expensed for accounting purposes when the land is sold.

The closing balance of the Allowance for doubtful debts at $1$ July $2024$ was $$7,500,$ after accruing a further $$4,500$ and writing off $$6,000$ as bad debts during the year ended $30$ June $2024.$ Accounts receivable at $30$ June $2023$ was $$213,000$ and the balance at $30$ June $2024$ was $$250,000.$ Prepare the Allowance for Doubtful Debts T$-$account.

The opening balance of prepaid insurance at $1$ July $2023$ was $$30,000.$ The annual premium of $$144,000$ was paid in March $2024,$ with $$138,000$ expensed during the year ended $30$ June $2024.$ Prepare the Prepaid Insurance T$-$account.