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The following information was taken from the unadjusted trial balance of Darby Enterprise at 31 December, 2018 Debit Credit Accounts Receivable RM385,000 Allowance for Doubtful
The following information was taken from the unadjusted trial balance of Darby Enterprise at 31" December, 2018 Debit Credit Accounts Receivable RM385,000 Allowance for Doubtful Debt RM 1,000 Sales Revenue RM 970,000 Additional information: RM1,000 owed by a bankrupt customer was uncollectible. Darby Enterprise expects 1 percent of sales will become uncollectible. Required: (a) Prepare the necessary journal entries on 31/12/2018 (year-end adjustments) (b) Show how accounts receivable is reported on the statement of financial position (balance sheet) as at 31 December 2018
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