Credible company provided the following T-accounts, kindly see attached photo

Activity #1 Credible Company provided the following T-accounts summarizing the transaction affecting the accounts receivable for the current year: Accounts Receivable Jan. 1 balance 600,000 Collection from customers 5,300,00 0 Charge sales 6,000,00 Writeoff 0 35,000 Shareholders subscription 200,000 Merchandise returns 40,000 Deposit on contract 120,000 Allowances to customer for Claims against common carrier for shipping damages 25,000 damages 100,000 Collections on carrier claims 40,000 IOU's from employees 10,000 Collection on subscription 50,000 Cash advance to affiliates 100,000 Advances to a supplier 50,000 Required: a) Compute the correct amount of accounts receivable. b) Prepare one compound entry to adjust the accounts receivable. c) Compute the amount to be presented as "trade and other receivables" under current assets. d) Indicate the classification and presentation of the other items