(Question 5) Question 5 Clapy Sdn Bhd has been offering a credit settlement for most of their customers. Below are the details as at 31 March Year Trade receivables (after bad debts written-off) RM 23,800 35,700 2018 2019 Bad debts Provision Provision written-off for doubtful for discount debts allowable RM RM RM 1,430 952 685 1,180 1,428 Increase by 50% 950 ( | 2020 35.114 During the year ended 31 March 2020, several adjustments has to be made before audit resumes Date 11 April 2019 Transactions No record has been made on sales transaction of RM3,450 to Fan Enterprise which 30% of payment was settled on that day. 22 May 2019 Missing record of an issued invoice of RM4 850 to Corn Enterprise before allowing 2% trade discount. 23 May 2019 Fan Enterprise returns damaged biscuits to Maylem amounting RM1,340 10 July 2019 Cash sales to Lily of RM1,240. However, she returned four boxes of biscuits worth RM280 the next day. 1 August 2019 Sold thirty boxes of biscuits to Minnie Enterprise and Meen Enterprise worth RM17,540 and RM15,740 respectively both with credit term of 3/50, net 180 1 October 2019 Gurb Enterprise repaid debt of RM666 by cheque although this debt was previously written-off as bad debt. 15 December 2019 Received 60% payment from Fan Enterprise by cheque to settle their remaining amount due. 11 January 2020 Received payment from Meen Enterprise for their full settlement of debts and 45% settlement from Minnie Enterprise. All payment was received in the form of cheque. 14 March 2020 Received 50% payment from Corn Enterprise by cash The provision for doubtful debts is to be maintained at 4% of outstanding trade receivables and provision for discount allowable is at 3% of potentially good receivables You are required to prepare (a) Journal entries for all adjustments discovered (narrations are not required) (9 marks) (b) Trade receivables account (4 marks) (c) Provision for doubtful debts and provision for discount allowable account for the year 2019 and 2020. (7 Marks) 20 Marks