2) Choice Clothing completed the following selected transactions during 2019 and 2020: Date 2019 Transactions Dec. 31 Estimated that bad debt expenses for the year was 3% of credit sales of $748,000 and recorded that amount as expense. 31 Made the closing entry for bad debt expense. 2020 Feb. 26 Jul. 29 Sep. 6 Oct. 21 Dec. 31 31 31 Sold inventory to Bruce Jones, $1,412, on credit terms of 2/10, n/30. Ignore the cost of goods sold. Wrote off Jones's account as uncollectible after repeated efforts to collect. Received $1,150 from Bruce Jones, along with a letter stating her intention to pay her debt in full within 45 days. Reinstated the account in full. Received the balance due from Jones. Made a compound entry to write off the following accounts as uncollectible: Sean Rooney, $1,610; Sargent Limited, $3,075; and Linda Lod, $11,580. Estimated that bad debt expense for the year was 3% of credit sales of $860,000 and recorded the expense. Made the closing entry for bad debt expense. a. Record the transactions in the general journal. Choices records all amounts to the nearest cent. Present all amounts to two decimal places. (10 MARKS)