P&Q Bhd is a logistics provider operating throughout Semenanjung Malaysia. Their fleet includes large trucks, vans and motorcycles. They have 78 branches and service both retail and wholesale clients. Their wholesale clients are billed on a monthly basis while their retail customers are billed on piece basis. Their financial year ends on 30 June.

a. A truck was purchased on 1 July 2020 for RM150,000. It was estimated that the asset had a residual value of RM30,000 and a useful life of 8 years at this date. On 1 July 2022 (two years later) the residual value was reassessed as being only RM10,000 and the useful life remaining was extended to another eight years. How should the asset be accounted for in the years ending 30 June 2021/2022/2023?

b. A major wholesale client declared bankruptcy on 1 April 2022. They had previously defaulted on January and February invoices amounting to RM57,000. P&Q usually sends out invoices on the 5th every month for the previous month's services to its wholesale clients. March invoice for this client should have been RM23,000.

c. P&Q purchased water filters for all its branches on 1 January 2022. The contract specifies that the filters will be installed at a price of RM888 each and annual maintenance service will be RM10000 for all branches where a filter component need to be replaced every two years and the price is not fixed. The maintenance contract is for a period of ten years. P&Q has arranged for an instalment payment of RM6606 for the first 12 months and annual payment for maintenance and part replacements.

d. P&Q launched a membership program for its retail clients. The membership fee is RM200 which entitles the cardholder to three free delivery (regardless of distance and weight but on per piece basis) as well as a 10% discount on all future delivery. The membership card also collected points and every 500 points will be given a free delivery. Every RM1 purchase entitles the member to 1 point.

e. P&Q is considering opening branches in Sabah & Sarawak. They have allocated RM10 million for the expansion. They have not yet implemented any of their plans as of 30 June 2022. Required: Discuss the appropriate accounting treatment for each of the situation above