On 31 December 2017 , the management decided to write off debts owed by Lee Jia $450 and Chen Bu $345 as irrecoverable. It was found that Lee had already migrated overseas and Chen's whereabouts were not known after many attempts made to contact him were unsuccessful. Required: i. How much is the total bad debts during the year? ii. Show the effect of the above transaction in the statement of profit and loss and the balance sheet for the year ended 31 December 2017. On 31 August 2018, beyond our expectation, Lee Jia came back from overseas and settled his debts of $450 that were written off as irrecoverable on 31 December 2017. Required: iii. Show the effect of the above transaction in the statement of profit and loss and the balance sheet for the year ended 31 December 2018