Qeestion 1 (4 mariks) 1.1. At 1th Janaary 202, Braun Company's trade receivables were totaled $500,000. A specifie allowance of \$10000 had been made for Andrew Co - a credit customer who has the 6 months overdue balance of 530000 and there is no other general allowance for receivables at this time. During the year, Andrew Co went bankrupt in December, 20X2 then the financial manager decided to make general allowance 5% at 31.12.20xd Requirement i. Critically analyre the accounting concept which can be used in this event relating to trade receivables of Braun Company. it. What amount should appear in Braun Company's statement of profit or loss for receivable expense for the year ended 31 December 20X2 ii. What amount should appear in Braun Company's statement of financial position for trade receivables for the year ended 31 December 20X2 Note: your answer should show clearly any relevant journal entries