Question 1 As at 1 July 2019, total accounts receivable of Lamp Sdn. Bhd. Was RM346,500 and the allowance for doubtful debts was RM21,000. The following is information related to the accounts receivable for the year ending 30 June 2020 Transactions RM Total sales 167,500 Bad debts 1,800 Payment by accounts receivable 279,000 However, it has been decided that a 5% allowance for doubtful debts is to be made on the outstanding accounts receivable for the year Required to prepare: (a) Bad debts and Allowance for doubtful debts accounts for the year 2020. (5 marks) (b) Statement of Profit or Loss for the year ended 30". June 2020. (Extract) (5 marks) (c) Statement of Financial Position as at 30 June 2020. (Extract) (5 marks) (d) Explain the reason for providing an allowance for doubtful debts in a particular year (10 marks)