In finalising the financial statements of a company for the year ended 30 June 2012, which of the following material matters should be adjusted for? (1) A customer who owed USD180,000 at the end of the reporting period went bankrupt in July 2012.(2) The sale in August 2012 for USD400,000 of some inventory items carried in the statement of financial position at USD500,000.(3) A factory with a value of USD3,000,000 was seriously damaged by a fire in July 2012. The factorywas back in production by August 2012 but its value was reduced to USD2,000,000.(4) The company issued 1,000,000 ordinary shares in August 2012.
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