UNIK Technologies Berhad is the largest direct-sale computer vendor in Malaysia. The company has been successful and leading the seller of computer systems in Malaysia. The company capturing Malaysian market share by offering a range of technological products including the desktop personal computers, notebook computers, network servers, workstations, handheld computers, monitors, printers, high-end storage products, and a variety of computer peripherals and software. UNIK sells its equipment directly to consumers small to large businesses, government agencies, and healthcare and educational institutions through dedicated sales representatives, telephone- based sales, and online via the company web site. The company will extend credit terms of 1/10, n/45 for all customers dealing with the company. Some of large sales order from industrial consumers are made through sales contract which requiring for payment in advance before the delivery will be performed months later. On 1 October 2020, UNIK entered into sales contracts agreed to supply computers for 5 industrial customers. Each customer has been charged an equal amount of upfront payment resulting the receipts in total of RM18,424,400. These amounts included in Other payables. On 30 September 2021, UNIK has only sufficient stock to accommodate for three contracts of sales and another two sales contracts will be performed in July this year. The following chart of accounts includes the account number uses for each account and any balance as of 31 March 2021. 1 ACT3101 Group Assignment NO. ACCOUNT TITLE DEBIT (RM) Semester 2 2021 2022 CREDIT (RM) 101 Cash and bank balances 102 Trade receivables 19,887,575 1,644,850 103 Allowance for doubtful debts 32,625 104 Prepaid insurance 600,000 119 Inventory 2,926,250 160 Freehold land 11,488,750 161 Equipment 9,375,000 162 Accumulated depreciation: Equipment 800,000 163 Building 23,750,000 164 Accumulated depreciation: Building 570,000 165 Machinery 7,500,000 166 Accumulated depreciation: Machinery 1,000,000 167 Truck delivery 0 168 Accumulated depreciation: Truck delivery 0 171 Long term investment 6,435,875 180 Trademark 5,085,800 181 Patent 0 182 Accumulated amortization - Patent 0 183 Computer software 1,980,620 184 Accumulated amortization - Computer software 792,248 185 Franchise 4,136,250 186 Accumulated amortization: Franchise. 1,378,750. 200 Long term borrowing 33,750,000 210 Trade payables 1,850,900 211 Deferred tax liability 1,250,000 212 Dividend payable 0 213 Other payables 18,424,400 300 Share capital 10,000,000 301 Retained profits 15,350,250 400 Sales revenue 25,849,375 401 410 501 Sales return and allowance Dividend income Depreciation expense: Equipment 1,126,000 3,849,247 250,000 503 Depreciation expense: Building 190,000 505 Depreciation expense: Machinery 300,000 507 Depreciation expense: Truck delivery 0 509 Insurance expense 750,000 510 Cost of goods sold 8,657,113 512 Bad debt expense 86,313 513 Salary and wages expense 1,750,000 514 Supplies expense 865,250 515 Utilities expense 516 Rent expense 517 Advertising expense 520 Finance cost 521 Amortisation expense: Patents 522 Amortisation expense: Computer software 523 Amortisation expense: Francise 525 Sales discount Total 1,151,324 750,000 3,256,800 426,000 0 390,150 137,875 0 114,897,795 114,897,795 2