Question 5: Cable Limited had accounts receivable of 845,000 at 30 November 2019 and this included 5,000 from a customer who went into administration. The administrator has indicated that 30p in the 1 will be paid. The irrecoverable element is to be written off. An allowance is required amounting to 5% of the adjusted balance. The allowance brought forward was 32,500. Draw up T-accounts for accounts receivable, allowance for doubtful debt, and bad and doubtful debt expense. Calculate the charge in the statement of profit or loss for bad and doubtful debts.