Question 1 The financial year end of Penpaper Trading is on 31 December every year. The accounts receivable of the company at the end of each accounting year are as follows: Year 2014 2015 2016 2017 2018 46,000 42,000 42,000 38,000 40,000 It is thecompany's policy to set aside 2% on debtors as Provision for Doubtful Debts every year starting from 2014 You are required to a. Prepare the following accounts for years 2014 to 2018 (4 marks) (6 marks) Provision for Doubtful Debts Account. i) Doubtful Debts Account. Show the effect on the Statement of Comprehensive Income for years ended (5 marks) b. 31 December 2014 to 2018 Show the Statement of Financial Position (extracts) of debtors for years 2014 (5 marks) c. to 2018 Barry Sdn Bhd uses a perpetual inventory system and it uses the LIFO method to assign cost to its inventory. The following are its purchases and sales transactions for ts merchandise for the month of September 2018. Activities Date Units Acquired at Cost Units Sold at Retail 01 Sep Beginning inventory 300 units at RM12/unit 03Sep Purchases 04Sep Sales 06Sep Purchases 14Sep Sales 18 Sep Purchases 22 Sep Purchases 28 Sep Sales 300 units at RM14/unit 450 units at RM60/unit 300 units at RM14/unit 380 units at RM60/unit 150 units at RM16/unit 300 units at RM14/unit 480 units at RM60/unit Required: Using the LIFO (Last-In, First-Out) method, assign the inventory cost to the purchases, cost of goods sold, and the balances. (20 marks) Please use the format below. Goods Purchased Cost of Goods Sold Inventory Balance Units RM/unitRM DateUnitsRM/unit R