W Assume that you are preparing Galore Ltd's yearly allowance for doubtll debts based on 2% of net credit sales, which will potentiaily result in \"3% growth rate. The managing director. Ms Sharon Shady {Sharon}. suggested you to increase the allowance for doubtful debts to 4% in order to achieve a 5% growth rate. Sharon said to you that: "we do not want our shareholders to expect our company to sustain a 10% growth every year rather. a 5% grth rate is more sustainable for our company." You are required to conduct research {i. e. reviewing relevant accounting standards and policies as well as academic and professional journals} and Write a business report by addressing the below questions. Part A 1). What are the relevant factors that should be considered when estimating yearly allowance for doubtful debts? 2). How does the allowance for doubtful debts potentially impact Galore Ltd's financial reports? Part B 1). a. Is it ethical to follow the managing director, Sharon, to estimate the allowance for doubtful debts based on a predetermined 5% growth rate? b. Will you follow Sharon's suggestion? 2). How does your decision about whether to follow Sharon's suggestion influence various stakeholders? You are required to provide detailed explanations.mm a] Structure The report must contain the following [in this order): - Report cover page {You can deSign your own cover page) - Introduction - Body which consists of your responses to the assignment questions I Conclusion I Reference list b] Word limit The assigrunent should be typed {in Microsoft Word. Times New Roman. 12 font. L5 line spacing]. The word limit is 800 excluding references. However, it can be 10% overfunder the word limit without incurring a penalty. Please note that only include introduction. body and conclusion in the word count. e] Referencing It is extremely important that you are familiar with the university policy on plagiarism that is included in the unit guide. You must re-write material in your one: words and not just copy and paste From the internet or any other resources. You must properly reference all material in the main text and provide a reference list at the end of the assignment. It is recommended that you use the Harvard or APA referencing style