1. 1. On December 31, 20X1, the company reported a debit balance of $200,000 in accounts receivable and a credit balance of $5,000 in the allowance for doubtful accounts. December 31 is the company's reporting date. During 20X2, the company had the following transactions: a. The company made a credit sale of $300,000. b. The company wrote off the uncollectible accounts for $12,000. c. The company collected the receivable of $4,000 that had been written off previously. Required (10 marks): (1) Prepare journal entries to record the above three transactions. (2) Assume that 1.5% and 2.5% of the company's 80% and 20% accounts receivable, respectively, cannot be collected, prepare adjusting journal entry at the end of 20X2