Question 2 (11 marks) The following information relates to the business of David \& Sons Company. The financial year of the company ends at 30 June 2022. Opening balance of Account Receivables $22200 Opening balance of the Allowances for Doubtful Debts 2820 Closing Balance of Account Receivables 28860 Net credit sales during the year 78000 During the year, \$2 160 of account receivables were written off as bad debts. David \& Sons Company uses the net credit sales method to estimate doubtful debts. It is estimated that three per cent of the net credit sales will become uncollectable. Ignore GST. Required: a) Prepare the following accounts (T-account) at the end of 2022 (7) marks) a. Account Receivables b. Allowances for Doubtful Debts ANSWER a): b) Show how the above information appears in the Income Statement and the Balance Sheet of the company at the end of the financial year (4) marks) ANSWER b)