Question 5 The following is an extract of a firm's Accounts Receivable and Accounts Payable subsidiary ledgers. ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER (Extract) D. WAYNE Date Particulars Debit Credit Balance 30/6/16 Balance 3,400 dr C. DECKER Debit Credit Balance Date Particulars 1,078 dr 30/6/16 Balance ACCOUNTS PAYABLE SUBSIDIARY LEDGER (Extract) D. WAYNE Date Particulars Debit Credit Balance 30/6/16 Balance 1,200 cm You are required to prepare general journal entries to record the following: a) Because D. Wayne is both a customer and a supplier, the business has decided to record a contra entry to offset the smaller amount owing. b) The amount owing by C. Decker has been outstanding for six months and all attempts to collect the money have failed. The business has decided to write the amount off as a bad debt