Question 39 11 pts Part A Assume that Aphrodite Ltd had an Allowance for Doubtful Debts with a credit balance of $15 000 at 1 July 2020, and that a total of $12 000 of Accounts Receivable were written off during the year. Required: 1. Record the general journal entries to provide for doubtful debts and to record the Doubtful Debts expense if the estimate of the uncollectable amounts at 30 June 2021 was $21,000. Narrations are required. 2. Show how the Statement of Financial Position would present the recoverable amount of the asset given that the balance of Accounts Receivable at 30 June 2021 was $2 050 000. (2+2=4 marks) Part B Assume that Macca's Markets had an inventory balance of $43 780 at the close of the last accounting period. The following sales and purchase transactions are for the current period. NOTE: GST at 10% is included in the amount where applicable. 1. Purchased goods on account for $32 725. 2. Returned part of the above purchase that had an original invoice price of $2 629. 3. Paid for the balance of the purchase in time to receive a discount of 1.5% of the invoice 4. Sold goods on account costing $21 635 for an invoice price of $52 393 and received cash of $10 000. Required: 1. Prepare general journal entries to record the transactions assuming the perpetual inventory system is used. 2. Suppose that a physical count of the inventory at the end of the current period shows inventory of $41 590 to be on hand. Prepare the general journal entries (if any) that are required to adjust for any discrepancy