+ Question 25 Marc Pty Ltd has accounts receivable of $92,500 at 31 March 2022. An analysis of the accounts shows these amounts: Balance, 31 March Month of sale 2022 March $65,000 February $12,600 December and January $8,500 November and October $6,400 $92 500 2021 $75 000 $8,000 $2,400 $1,100 $86 500 Marc Pty Ltd's credit policy allows their debtors 30 days to make the payment. The entity uses the ageing of accounts receivable (debtors) basis for estimating uncollectable accounts. Marc Pty Ltd's estimates of bad debts are as follows: Age of accounts Current 1-30 days past due 31-90 days past due Over 90 days Estimated percentage uncollectable 2.0% 5.0% 30.0% 50.0% Required: a. [3 marks] Marc Pty Ltd purchased a new machine on 1 January 2021 at a purchase price of $190,000. Marc Pty Ltd also paid $38,000 for import taxes on 1 January 2021. Regular maintenance and repair cost of $5,000 was incurred on 31 March 2021. The entity estimated that the machine has a residual value of $28 000. The machine is expected to be used for 10-years. Assume a 31 March year-end. Diminishing balance method uses double the straight-line rate. Calculate the depreciation expense using the straight-line and diminishing balance methods for 2021 and 2022. [8 marks] [Total for Question 25 = 15 marks]