Part 2 During the year 2015, David has managed to secure some contracts with corporations. As the contracts are lucrative, he decided to extend credit terms with these corporations ranging from 3 to 6 months. As at 31 December 2015, he realised that the amount owing by the accounts receivable has increased to RM35,000 and he was doubtful that some of the amount owing might be irrecoverable. Therefore, he decided to make an allowance for doubtful debts of 2% on the total balance of the accounts receivable. Required As at 31 December 2015, prepare the following: a) Allowance for doubtful debts accounts. b) A Statement of financial position extract to show accounts receivable as at 31 December 2015.