Sid Berhad year end is 31 December 2020. The accountant of Sid Berhad has asked for your opinion on the accounting treatment of the following items:

(i) On 18 February 2021, before the financial statements were authorised for issue, it was found that one of the customers, owing RM28,000 at 31 December 2020, had been declared bankrupt.

Required:

Advise Sid Berhads accountant on the accounting treatments for all the above- mentioned items. Your answer shall make reference to relevant MFRS Standards.