2. The Krissy Company had the following Account Balances and transactions during the current year: Accounts Receivable $175,000, Sales: $750,000, Sales Returns and Allowances: $20,000. Krissy Company estimates bad debt expenses as 2.5% of net sales.

Jan. 1 Journalized estimated bad debt allowance for the year.

Mar. 3 Received a $5,200, 180-day, 8% note from C. Davis in payment of

account.

24 Wrote off the $500 account for V. Lake, a customer, against the

Allowance for Un-collectable Accounts.

Apr. 17 C. Davis paid note in full.

13 V. Lake paid account that had been written off on March 24.

REQUIRED: Record the above transactions in general journal form.