The information in the following table relates to the accounts receivable and allowance for doubtful debts of Prime Moving Ltd. The companys accounting period ends on 30 June each year. The company policy is to provide an allowance for doubtful debts at the rate of 3% of accounts receivable at 30 June each year. The balance of the Allowance for Doubtful Debts account on 1 July 2019 was $14 000. The following information is given for the year ending 30 June 2020 and 30 June 2021, in order to determine the bad debts expense for each year and the balance of allowance for doubtful debts at the end of each year.

	2020	2021
Accounts receivable (ending balance at 30 June)	$560,000	$630,000
Bad debts written off during the year	8,400	0
Allowance for doubtful debts at 1 July (Beginning of the period)	(a)	(d)
Bad debts expense for the year	(b)	(e)
Allowance for doubtful debts at 30 June (Ending balance)	(c)	(f)

Required:

1. Determine the missing amounts in the table.
2. Discuss how the following accounts are recognised or disclosed in the entitys financial statements and their effect on the financial statements.
   • discount allowed
   • discount received
   • bad debts expenses
   • bad debts recovered
3. Show the relevant section of the balance sheet prepared at 30 June 2021.