Question 1: Jaafar Trading Sdn Bhd (JTSB) has has the following ageing schedule as at 31 Decembe 2018 Over 91 day! Account Receivables Aging Schedule Name Total 1 - 30 days 31-60 days 60-90 days (RM) Total Account 92,500 31,000 34,000 21,500 Receivable Estimated 2% 3% 4% uncollectible 6,000 5% Required: a) What is bad debt? (2 mar! b) Explain 2 reasons why company should debts/uncollectible? allocate some amount for (2 m c) Calculate the total estimated bad debts for 2018. d) Show the accounting treatment for bad debt: i) Journalize the adjusting entry for bad debts on 31 December 2018 by ass unadjusted balance for Allowance for Doubtful Debt Account is credit RMV ii) Prepare the Allowance for Doubtful Debt Account iii) Prepare the extract of Statement of Financial Position as at 31 Dece show the Accounts Receivables and Allowance for Doubtful Debt A marks) Question 1: Jaafar Trading Sdn Bhd (JTSB) has has the following ageing schedule as at 31 Decembe 2018 Over 91 day! Account Receivables Aging Schedule Name Total 1 - 30 days 31-60 days 60-90 days (RM) Total Account 92,500 31,000 34,000 21,500 Receivable Estimated 2% 3% 4% uncollectible 6,000 5% Required: a) What is bad debt? (2 mar! b) Explain 2 reasons why company should debts/uncollectible? allocate some amount for (2 m c) Calculate the total estimated bad debts for 2018. d) Show the accounting treatment for bad debt: i) Journalize the adjusting entry for bad debts on 31 December 2018 by ass unadjusted balance for Allowance for Doubtful Debt Account is credit RMV ii) Prepare the Allowance for Doubtful Debt Account iii) Prepare the extract of Statement of Financial Position as at 31 Dece show the Accounts Receivables and Allowance for Doubtful Debt A marks)