Transaction/event 1: Sale of a division (4 marks) Surf Ltd has a division which provides civil works contracts to mining companies. As a result of increased costs and lower margins in mining contracts, on July 17 2023, Surf Ltd's directors made the decision to sell its mining civil works division to another organisation to allow it to focus on expanding its road and rail construction contract business. As Surf Ltd has several long-term mining civil works contracts and its management team, long-term employees and know-how are highly regarded, the company estimated that it should expect proceeds from the sale to be in the order of $30 million (being the market value of all assets and liabilities to be sold). Transaction/event 2: Doubtful debt provision (4 marks) Surf Ltd's accounts receivable balance as at of 30 June 2023 was $1,350,000. At 30 June 2023, the company recorded an allowance of doubtful debt of $100,000 which related to a client whose business suffered severely because of high construction costs in the previous financial year. At 30 June 2023, the client was under administration and it was deemed that the outstanding accounts receivable would be uncollectable as Surf expected the client to