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Wentworth Ltd had the following revenue and expense items were included for the period ended 30 June 2021. Sales Cost of sales Interest revenue 381,550 125,000 16 000 Doubtful debts expense Depreciation expense plant (15% straight-line) Rent expense Entertainment expense Long service leave expense 9 200 33750 27 800 8 900 12 000 The statement of financial position at 30 June 2021 included the following: 2021 2020 Cash $ 14 000 $ 12 500 Accounts receivable 88 000 81 800 Allowance for doubtful debts (10 000) (8 200) Inventories 72 100 63 300 Interest receivable 6 000 _ Prepaid rent 7 800 7 400 Plant 225 000 225 000 Accumulated depreciation plant (101250) (67500) Deferred tax asset ? 30860 Accounts payable 76 200 78 600 Provision for long service leave 69 000 66 000 Deferred tax liability ? 3720

Additional information The tax depreciation rate for plant is 10% straight-line. The tax rate is 30%. Required 1. Prepare the worksheets and journal entries to calculate and record the current tax liability and the movements in deferred tax accounts for the year ended 30 June 2021. In your answer include the following general ledger accounts: Interest receivable; Provision or long service leave; Allowance for doubtful debts; Prepaid rent; Deferred tax liability and Deferred tax asset.

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