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Brian Bazaar had sold goods on credit in September 2016 for $5500 (including 10% GST) and in November 2016 became aware that the debtor M. Waters was bankrupt and the creditors were unlikely to receive any amounts due. On 28 November, the accountant for Brian Bazaar wrote the debt off against the Allowance for Bad Debts account. Brian Bazaar uses the non-cash (accruals) basis for reporting and remitting the GST obligations.
Required
Problem (a) Prepare the journal entry to record the bad debt write-off.
Problem (b) Prepare brief memo to the general manager explaining the effect of the bad debt write-off on the GST liabilities and the difference between reporting the GST on the cash and non-cash (accruals) basis in regards to bad debts.
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