Q9.Al ZakiCompany doing the business for sale of Televisions. The company made total sales of 10 Million in which Cash Sales were OMR 3 Million.As the Company make sales on credit to different customers it reports the following financial information before adjustments.Debit Balance of Account Receivable OMR 475,000.Debit Balance of Allowance for Doubtful Accounts OMR 22,500.Al Zaki Company estimates bad debts at 3.5% of net sales and follows direct write off method to record the Journal entries. Based on the previousyears experience Al Zaki Company also estimated bad debts at 6.25% of account receivables as per the allowance method on credit sales. As Al ZakiCompany has not received the full amount it has written off the estimated amount of account receivables on 30 October. In the month of January the customers has paid the full amount which was written off by Al Zaki Company. You are required to write the necessary Journal entries.(5 Marks)