Ebby Company's Trial Balance as at 31 December 2022 shows the following balances: Accounts Receivables Allowance for Doubtful $300,000 Debit $9,000 Credit During the year ended 31 December 2023: Ebby Company made credit sales of Total amount collected from customers $1,106,000. $1,200,000 Ebby Company wanted to make the following adjusting journal entries on 31 December 2023: (a) $6,000 of balances owing by a customer (Mr Lam) is to be written off. (b) 5% of amount owing by customers on 31 December 2023 is expected to be uncollectible. Required: (a) Prepare the journal entries on 31 December 2023, and include the workings. (2 marks for Journal entries and 2 marks for workings) (b) Calculate the amount of cash realizable value of Accounts Receivable, as at 31 December 2023. (1 marks) QUESTION 2: (5 marks) Jerrie Co purchased an equipment for $2,000,000 on 1 January 2021. The equipment has been depreciated using the reducing balance method. The depreciation rate is 20% per year. The equipment was sold off for $1,000,000 on 31 December 2023. Required: Calculate the amount of gain or loss on disposal of equipment on 31 December 2023. (5 marks)