Eden Age Current This 0.5 20 30-60 days overdue 61-120 days overdue 10 24196 20 121 days to 6 months overdue 40 Over 6 months overdue 519150 Shot on OnePlus for all journals) Joumal the closinantes marks) Question 2 25 marks) The accountant for Trendy Plastics PyLad prepared an ageing analysis of accounts recente best June 2019 as set out below. The percentages of each ape poup estimated to be unclear bond on past experience and are show next to the aged balances The company is registered for GST The company uses the lowance method to account for bad debts On 30 June 2010 e credit balance of the Allowance for Doubt Debts account is $1850 bere any adjustments Estimated o BE Type here to search Estimated uncollectable (%) Age Balance Current 0.5 346 500 30-60 days overdue 2.0 99 000 61-120 days overdue 10 24 750 121 days to 6 months overdue 20 29 700 Over 6 months overdue 40 19 800 519 750 (Use whole numbers for all journals) (Use whole numbers for all journals) Required: A. Prepare the general journal adjusting entry for estimated bad debts on 30th June 2019 (4 marks) B. Give the entry to write off the account of PArthur in August 2019, $8 250 (3 marks) C. The following transactions relate to the florest business of Penny Hall. The balance in the Allowance for Doubtful Debts account on 1 July 2018 was $4 740. Bad debts written off during the year ended 30 June 2019 amounted to $3 220. Debtors' balances on 30 June 2019 after the bad debts had been written off total $182 960, and a new allowance of 5% of debtors is required. (Ignore GST for the purpose of this exercise.) (6 marks) Required: Prepare and balance the Allowance for Doubtful Debts accounts for the year to 30 June 2019 C. The following transactions relate to the forest business of Penny Hall. The balance in the Allowance for Doubtful Debts account on 1 July 2018 was $4 740. Bad debts written off during the year ended 30 June 2019 amounted to $3 220. Debtors' balances on 30 June 2019 after the bad debts had been written off total $182 960, and a new allowance of 5% of debtors is required. (Ignore GST for the purpose of this exercise.) (6 marks) Required: Prepare and balance the Allowance for Doubtful Debts accounts for the year to 30 June 2019 D. Valley View Pty Limited uses the allowance method for accounting for bad debts and is registered for GST. Give the journal entry required to write off the account of S. Leopard on 30 September 2019 for $6 600. (3 marks) E. Winter Delights Pty Limited uses the 'direct write off method for accounting for bad debts and is registered for GST. Give the journal entry required to write off the account of C. Turtle on 30 September 2019 for $7 7000. (3 marks) F. Power Services Ltd has overdue fees receivable from I. Short for $15 000. On 22 May 2019 Short requested a 90-day extension of the payment date, and the company agreed to accept a 90-day, 12% bills receivable in exchange for the account receivable. (6 marks) Type here to search 99+ no me account of S. Leopard on 30 September 2019 for $6 600 (3 marks) E. Winter Delights Ply Limited uses the direct write off method for accounting for bad debts and is registered for GST. Give the journal entry required to write off the account of C. Turtle on 30 September 2019 for $77000 (3 marks) F. Power Services Ltd has overdue fees receivable from I. Short for $15 000. On 22 May 2019 Short requested a 90-day extension of the payment date, and the company agreed to accept a 90-day, 12% bills receivable in exchange for the account receivable. (6 marks) Required: Prepare the general journal entries to record the receipt of the bills receivable and any necessary adjusting entries at 30 June 2019 C Eden Age Current This 0.5 20 30-60 days overdue 61-120 days overdue 10 24196 20 121 days to 6 months overdue 40 Over 6 months overdue 519150 Shot on OnePlus for all journals) Joumal the closinantes marks) Question 2 25 marks) The accountant for Trendy Plastics PyLad prepared an ageing analysis of accounts recente best June 2019 as set out below. The percentages of each ape poup estimated to be unclear bond on past experience and are show next to the aged balances The company is registered for GST The company uses the lowance method to account for bad debts On 30 June 2010 e credit balance of the Allowance for Doubt Debts account is $1850 bere any adjustments Estimated o BE Type here to search Estimated uncollectable (%) Age Balance Current 0.5 346 500 30-60 days overdue 2.0 99 000 61-120 days overdue 10 24 750 121 days to 6 months overdue 20 29 700 Over 6 months overdue 40 19 800 519 750 (Use whole numbers for all journals) (Use whole numbers for all journals) Required: A. Prepare the general journal adjusting entry for estimated bad debts on 30th June 2019 (4 marks) B. Give the entry to write off the account of PArthur in August 2019, $8 250 (3 marks) C. The following transactions relate to the florest business of Penny Hall. The balance in the Allowance for Doubtful Debts account on 1 July 2018 was $4 740. Bad debts written off during the year ended 30 June 2019 amounted to $3 220. Debtors' balances on 30 June 2019 after the bad debts had been written off total $182 960, and a new allowance of 5% of debtors is required. (Ignore GST for the purpose of this exercise.) (6 marks) Required: Prepare and balance the Allowance for Doubtful Debts accounts for the year to 30 June 2019 C. The following transactions relate to the forest business of Penny Hall. The balance in the Allowance for Doubtful Debts account on 1 July 2018 was $4 740. Bad debts written off during the year ended 30 June 2019 amounted to $3 220. Debtors' balances on 30 June 2019 after the bad debts had been written off total $182 960, and a new allowance of 5% of debtors is required. (Ignore GST for the purpose of this exercise.) (6 marks) Required: Prepare and balance the Allowance for Doubtful Debts accounts for the year to 30 June 2019 D. Valley View Pty Limited uses the allowance method for accounting for bad debts and is registered for GST. Give the journal entry required to write off the account of S. Leopard on 30 September 2019 for $6 600. (3 marks) E. Winter Delights Pty Limited uses the 'direct write off method for accounting for bad debts and is registered for GST. Give the journal entry required to write off the account of C. Turtle on 30 September 2019 for $7 7000. (3 marks) F. Power Services Ltd has overdue fees receivable from I. Short for $15 000. On 22 May 2019 Short requested a 90-day extension of the payment date, and the company agreed to accept a 90-day, 12% bills receivable in exchange for the account receivable. (6 marks) Type here to search 99+ no me account of S. Leopard on 30 September 2019 for $6 600 (3 marks) E. Winter Delights Ply Limited uses the direct write off method for accounting for bad debts and is registered for GST. Give the journal entry required to write off the account of C. Turtle on 30 September 2019 for $77000 (3 marks) F. Power Services Ltd has overdue fees receivable from I. Short for $15 000. On 22 May 2019 Short requested a 90-day extension of the payment date, and the company agreed to accept a 90-day, 12% bills receivable in exchange for the account receivable. (6 marks) Required: Prepare the general journal entries to record the receipt of the bills receivable and any necessary adjusting entries at 30 June 2019 C