You are given the following additional information for the year ended 31 December 2016: a) Bad debts of $8000 were written off. b) It was decided that allowance for doubtful debts should be 4 per cent of accounts receivable. Required: 1) Prepare journal entries for these transactions. (4 marks) 2) Show the T-ledger accounts for the following for the year ended 31 December 2016: a) accounts receivable (2 marks) b) allowance for doubtful debts (2 marks) c) bad debts expense (2 marks)

Tutorial Question Assignment 2 HA1020 accounting.pdf - Adobe Acrobat Reader DC File Edit View Window Help Home Tools Tutorial Question A... X 2 / 5 en LUITCULUI Peakhurst Limited had the following trial balance at 1 January 2016: Credit $ Debit $ 200 000 Cash Accounts receivable 600 000 700 000 60 000 50 000 1 000 000 20 000 Inventory Prepaid insurance Prepaid rent Equipment Allowance for doubtful debt Accumulated depreciation Accounts payable Revenue received in advance Income tax payable Loan Share capital Retained profits 200 000 500 000 100 000 500 000 570 000 400 000 320 000 2610 000 2 610 000 You are given the followinA 138% Ember 2016: EL O