Question 1 A business started trading on 1 Jan 20X0. During the two years ended 31 December 20X0 and 20X1, the following debts were written off on the dates stated: Date Debtor Amount ($) 31 Aug XO Mr. Chin 85 30 Sep XO Mr. Goh 140 28 Feb X1 Mr. Lim 180 31 Aug X1 Mr. Neo 60 30 Nov X1 Mr. Tan 250 The following bad debts were recovered: Date Debtor Amount ($) 30 Nov XO Mr. Goh 140 31 Mar X1 Mr. Chin 85 31 Dec X1 Mr. Lim 180 On 31 December 20X0, total outstanding accounts receivables amounted to $40,500. Doubtful debts were estimated to be $900. On 31 December 20X1, total outstanding accounts receivables amounted to $47,300. Doubtful debts were estimated to be $600. Required: a. Prepare the Impairment of Accounts Receivable, Writeback of Impairment of Accounts Receivable, Allowance for Impairment of Accounts Receivable accounts for each of the financial years 20X0 and 20X1; and Oct 2013 8f0a377ad87dfbb2f026da41950a686805926440.doc