Question 5 (a) Mother & Baby Magazine received in June 2016 a total of $3,600 in subscriptions for magazines to be delivered once per month for the next 12 months. Required: (b) Explain whether you would recognise the subscription monies of $3,600 as revenue in the statement of profit or loss for the year ended June 30, 2016. Refer to the recognition criteria outlined in the AASB118 Revenue to support your answer. Brewery Ltd uses the aging of accounts receivable method to record their bad debt expense for the year ended June 30, 2016. The balance of accounts receivable at the year-end was $600,000 and the allowance for doubtful debts had a credit balance of $20,000 before any adjustments. The company estimates that 2% of accounts receivable will become uncollectable. Required: (i) Determine the total estimated amount of uncollectable accounts receivable for June 30, 2016. (ii) Construct the 'Allowance for Doubtful Debts' account as at June 30, 2016. (iii) Prepare the adjusting journal entries to record bad debts expense for the year ended June 30, 2016. Ignore narrations. (iv) Show the extract of the accounts receivable account in the Balance Sheet of Brewery Ltd as at June 30, 2016