Can someone work this out and go in depth on each answer please

8.26 The followmg IS a trial busmess for the first eleven months for Equipment Online, a distributor of office equipment. The firm uses the percentage of net credit sales method to estimate the uncollectible amounts from accounts receivable. It is registered for GST on an Invoice basis and where appropriate amounts have been indicated GST inclusive. Equipment Online Trial Balance at 31 May 20X3 Bank Accounts Receivable Provision for Doubtful Debts Inventory Property, Plant and Equipment (net book value) Accounts Payable Note Payable @19% (non-interest bearing) Debit 4,400 7,600 36,000 15,000 750 $63 750 Discount on Note Payable Capital Total Schedule of Accounts Receivable Venita Michael Cath Balance as per control a/c 1,600 2,800 3,000 200 $7,600 Schedule of Accounts Payable Alvin Ian Balance as er control a/c Credit 1,140 6,600 15,789 40,221 63 750 3,600 3,000 S6,600 The following transactions for Equipment Online occured during June. June 1 A 60-day, 12% interest-bearing promissory note was made to Alvin in payment of the account owed by the firm. 6 Wrote-off Cathy's account against the Allowance for Doubtful Debts. The accounting treatment method is used by the firm. 20 Paid the 1900 non-mterest bearmg note payable m full. 29 Cathy paid her account that had been written off on June 6. Cathy's credit histoly needs to be re-established. Required: (a) (b) (c) (d) Record the necessary pumal entries for the above June transactions m general journal form You are also required to prepare any adjusting entries for interest on the promiss01Y note at 30 June (assume 360 days for the business penodb On 30 June 20X3, the total net credit sales were S121,000 (GST exclusive). It was analysed that P of net credit sales were estimated uncollectible for the year ended 30 June 20X3. Prepare the required general joumal entries to adjust the Allowance for Doubtful Debts Account. Discuss on the impoltance of estimating uncollectible debts. Explain the major differences between the percentage of net credit sales and the ageing of accounts receivable methods that may be used to estimate uncollectible debts. Ryan has approached the accounts administrator of Furniture Online. He would like to settle his account of $3,000 with a 90-day, interest-bearing 15% bill receivable. On 20 July 20X3, the accounts administrator accepted from Ryan the bill receivable and specified that the bill had a fixed date for maturity. Prepare the general journal entries to record the payment of the bill receivable by Ryan upon the maturity date (show this maturity date clearly In the journal). The busmess has a 360-day busmess cycle.