XYZ is Limited Liability Retailer Company. The following transactions took place during 2019 financial year, ending 31 December 2019: The company injected cash in the company in the amount of $100,000. The company sold goods for $900,000 on cash and 700,000 on credit during the year. At the year-end it was determined that a customer owing to the company $5,000 is recognized bankrupt. 

Adjustment to reflect the effect on accounts receivable balance is required. A customer that previously bought a good on credit from XYZ LLC for $2000 on 01 December 2019 returned this good on 31 December 2019. No entries have been posted for this return. Purchases were made in the amount of $600,000 for cash and 280,000 on