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Question 2 The information below relates to the Accounts Receivable of Shenka Ltd during the current year 2014. 1. An aging schedule of the accounts receivable as of December 31,2014 is as follows: 2. Theaccounts receivable controlaccounthas adebitbalance of sh. 372,400 on December 31,2014 3. Two entries were made in the Bad debts expense account during the year: (i) a debit on December 31 , for the amount credited to the Allowance for doubtful debts; and (ii) a creditfor sh.2,520 on November 3,2014 because of bankruptcy. 4. The Allowance for Doubtful Accounts is as follows for 2014 5. Acreditbalance exists in the Accounts Receivable (61-90 days)of sh.4,840 whichrepresents an advance on a sales contract. Required: Assuming the bookshavenotbeen closedfor 2014, makethe necessary correcting entries (10marks) Question 2 The information below relates to the Accounts Receivable of Shenka Ltd during the current year 2014. 1. An aging schedule of the accounts receivable as of December 31,2014 is as follows: 2. Theaccounts receivable controlaccounthas adebitbalance of sh. 372,400 on December 31,2014 3. Two entries were made in the Bad debts expense account during the year: (i) a debit on December 31 , for the amount credited to the Allowance for doubtful debts; and (ii) a creditfor sh.2,520 on November 3,2014 because of bankruptcy. 4. The Allowance for Doubtful Accounts is as follows for 2014 5. Acreditbalance exists in the Accounts Receivable (61-90 days)of sh.4,840 whichrepresents an advance on a sales contract. Required: Assuming the bookshavenotbeen closedfor 2014, makethe necessary correcting entries (10marks)