Question 4 The accounts of Panda Company provided the following 2016 information at 31 December 2016: s 1,919,000 (dr.) 25,500 (cr.) 146,900 (cr.) Accounts receivable Allowance for sales discounts Allowance for doubtful accounts Total credit sales revenue during 20X5 23,639,000 Investigation showed the following: a. Examination of an aging of accounts receivable showed that accounts of $108, 200 previoushy provided for should be written off Of the remaining balance, $236,000 was doubtful at year end b. Estimated sales discounts inherent in the closing accounts receivable balance were $18,200. Terms of 1/10, n/45 were granted to customers. Accounts receivable were recqrded gross and the discounts taken were recorded when taken by the customers in a d reported contra to the sales account. account, Required: 1) Prepare year-end adjusting entries with respect to accounts receivable and the related allowances General Journal Account Titles and Explanation Date Debit Credit 2) Calculate the net accounts receivable appear on the statement of financial position on 31 December 2016