Question No.2... Total Marks-8) Part-A... (Mark-2) Trans-Arabian Food Company reports the following information pertaining to its accounts receivable: Current 2% 6% Days Past Due 1-30 31-60 61-90 Over 90 Rs 750,000 Rs 270,000 Rs 210,000 Rs 60,000 RS 30,000 The company's credit department provided the following estimates regarding the percent of accounts expected to eventually be written off from each category listed above: Current receivables outstanding......... Receivables 1-30 days past due Receivables 31-60 days past due 12% Receivables 61-90 days past due 20% Receivables over 90 days past due .. 50% The company uses a balance sheet approach to estimate credit losses. The company's financial years ends on 30-June-2019 Instructions: Record the company's uncollectible accounts expense, assuming it has a Rs.5.000 credit balance in its Allowance for Doubtful Accounts prior to making the necessary adjustment. Record the company's uncollectible accounts expense, assuming it has a Rs.6,000 debit balance in its Allowance for Doubtful Accounts prior to making the necessary adjustment Question No.2 - Part-B... (Mark-2) On February 10, 2020 Farrukh Bakery & Sweats Store learned that an account receivable of Rs.15,750 is worthless because of the bankruptcy of the client viz., Dhamaka Nimco Company. This account was originated on October 15, 2019 Instructions: Prepare the journal entry required on February 10, 2020 to write off this account. Using "Direct Write-off Method" Using "Allowance Method" 1 il