Please solve using IFRS format.

At December 31, 2016, Globe Trotter Imports reported the following information on its statement of financial position.

Prepare journal entries related to bad debt expense. (LO 2, 3, 9) At December 31, 2016, Globe Trotter Imports reported the following information on its statement of financial position. Accounts receivable 220,000 Less: Allowance for doubtful accounts 15,000 During 2017, the company had the following transactions related to receivables 1. Sales on account 2,400,000 2. Sales returns and allowances 45,000 3. Collections of accounts receivable 2,250,000 4. Write-offs of accounts receivable deemed uncollectible 10,600 5. Recovery of bad debts previously written off as uncollectible 2,000 Instructions (a) Prepare the journal entries to record each of these five transactions. Assume that no cash discounts were taken on the collections of accounts receivable. (b) Enter the January 1, 2017, balances in Accounts Receivable and Allowance for Doubtful Accounts. Post the entries to the two accounts (use T-accounts), and determine the balances Accounts receivable 314,400 ADA 6,400 (c) Prepare the journal entry to record bad debt expense for 2017, assuming that an aging of accounts receivable indicates that estimated bad debts are 21,400. Bad debt expense 15,000 (d) Compute the accounts receivable turnover for the year 2017, assuming the expected bad debt information presented in (c)