On 1 January 2019 Malik Mart had total debtors of RM 28,000 on which it had made an allowance for doubtful debts of 3%. On 31 December 2019, total accounts receivable amounted to RM42, 000 but this requires to be adjusted as follow: On December 2019, Malik Mart was advised that Unas Trading, who owed RM 5,200, was declared bankrupt and a settlement of 40% was made. The balance being treated as a bad debt. Other bad debts written off during the year amounted RM4,600. Due to the current economic situation, Malik Mart increased allowance for doubtful debt to 5% of its account receivables. At 28 February 2020, Lolo, a debtor that already written off the debt amounted RM 1,200 came to settle his debt. Show all the adjusting entries at the end of December. For the financial year ended 31 December 2019, prepare the allowance for doubtful debts account, bad debts account, and the extracts of the statement of comprehensive income and statement of financial position. You also need to prepare the journal entries and accounts for 28 February 2020 transaction.