ledger accounts

: Inventory, Accounts receivable, Gst receivable/payable ,accounts payable, allowance for doubtful debts

QUESTION 1 Covid Ltd has provided you with the following general ledger account balances: 31 March 2022 31 March 2021 S s Sales 890 000 Cost of goods sold 380 000 Doubtful debt expense 1 800 Accounts receivable 79 800 74 000 Allowance for doubtful debts 2 900 2 600 Inventory 40 000 49 500 Accounts payable 52 200 48 960 GST 45 000 Dr 10 000 Cr Additional information: Covid Ltd uses the direct method for reporting cash flows from operating activities. The GST rate is 15% Required: (1) Complete the general ledger accounts provided in the answer booklet. (ii) Prepare the cash flows from operating activities (CFOA) section of the Statement of Cash Flows for the year ended 31 March 2022 for Covid Ltd