Part 1 (11 marks] Sydney Kitchens Pty Ltd builds and installs kitchens offering credit facilities to its customers. The accounting records at 30 June 2020 reveal the following. All amounts shown {except where indicate include GST. Credit sales {for year] $ 851 one Credit sales returns and allowances (for year] E? 100 Accounts receivable (balance 30 June 2020) 284 438 Allowance for doubtful debts (credit balance 30 June 6 465 2020, excluding GS?) In the past, the company's vearty bad debts expense had been estimated at 2.534;I net credit sales revenue. It was decided to compare the current method with an ageing ofthe accounts receivable method. The following analysis was obtained with respect to the accounts receivable: "it: estimated Balance unoollectable Accounts not yet due $115 693 5 Accounts overdue:1d30 days ED 390 5 3160 days 52 140 10 51120 days 31 790 35 121 days and over 24 475 50 M Required A Prepare the journal entries to adjust the Allowance for doubtful debts at 30 June 2020 unden 1. the net credit sales method 2. the ageing of accounts receivable method. {7 marks) B. Determine the balance in the Allowance for doubtful debts account under both methods. {4 marks) {Journal entries should be rounded to the nearest 'whole number] A I'1'l