i am resubmitting and just need to make sure my answers are correct following trainer feedback:

Trainer feedback

Question 2 - Prepaid insurance - General ledger account. Top line $4,400 should be debited. As you have split the premium between insurance expense and prepaid insurance when you recorded the payment an entry for $400 is not required. Closing balance should be $4,400 debit - remove brackets. Question 3 - 2nd bad debt account - Opening balance should be $5,700 debit. Second row - Remove the debit entry of $5,700.

STEP 2: Insurance Prepayment Instructions XYZcom pays $4,800 for 12 months of insurance in July. Instead of recording the whole amount against July's expenses, show the expense equally across the periods for which the premium was paid (i.e., $400 expense in all months) Record the insurance payment and allocate the expense equally across the 12-month period. GL7 General Journal (showing the entire transaction) Date Description Ref Debit Credit i;'J\"" Insurance Expense 1945 $400 31-Juk o 4 Prepaid insurance 1945 $4,400 31-u- o Bank 1010 $4800 31-Ju- XX 4 4 4 4 6010 Insurance (showing the Insurance Expense account) Date Description Ref Debit Credit Balance i;'J\"" Insurance 1945 $400 5400 expense 4 2 4 % 1945 Pre-paid Insurance (showing the Prepaid Insurance account) Date Description Ref Debit Credit Balance 31-Jul- Y prepaid 1945 $4,400 ($4,800) XX inpiranan 4 4 4 4 4 R s 1010 $4,400 84,400 XX 4 4 4 4 expense Evidence Required Three completed tables STEP 3: Bad Debt Instructions One of XYZcom's account customers, JZ House and Garden, has gone broke, owing XYZcom $5,700. Prepare the appropriate journal or ledger entries to write off the debt. Use docket number JZ345, move the debt into bad debts in April, and finalise the transactions on the 31st of July. Before the write-off, profit is $275,300.00. You will write off the debt owed by JZ House and Garden and complete the required tables. Journal entry for the bad debt write-off Date Account Ref Debit Credit i;'J\"" Bad debt expense Jz345 $5,700 4 4 2 4 STk oounts receivable ||| Jz345 $5700 XX 4 2 2 Debtors Ledger - JZ House and Garden Date Description Ref Debit Credit Balance 1-JulXX | Opening balance Jz345 $5,700 $5700 / P . 4 31-July- XX 4 4 4 4 # Bad Debts account Date Description Ref Debit Credit Balance | [P JZ345 $5,700 85,700 XX off 4 2 4 v Profitand Loss account (updated to retlect the bad debt expense) Date Description Ref Debit Credit Balance 1-Jul-XX Opening balance e o SR s z s z April XX Bad debt Jz345 $5.700 $269,600 expense & 2 # g 4 Bad debt expense account updated to reflect the transfer to the profit and loss account Date Description Ref Debit Credit Balance 31Uk | ansferto PAL Jz345 $5700 $5,700 XX 4 4 4 4 4 Sl o et Jz345 $5,700 $5,700 S0 XX 4 4 4 4 expense Evidence Required Five completed tables 1. The general journal entry to write off the bad debt. 2. The general ledger bad debt expense account showing the bad debt written off. 3. The debtors ledger account for JZ House and Garden. 4. The profit and loss account showing the bad debt has been transferred 5. A second bad debt account to show the bad debt has been transferred to profit and loss