ABC Inc. started 2014 with Accounts Receivable of $3,000,000 and an allowance for doubtful accounts balance of $82,000. During 2014, net credit sales amounted to $6,000,000. Through 2014, the company recorded bad debt expense of 2% of net credit sales. On June 30, 2014 the company received notification that a major customer Green Company Limited had gone bankrupt with no expectation of recovering any of the outstanding balance of $250,000. On September 30, 2014 the company did receive notice that the Receiver would be providing a recovery of 15% of the outstanding balance. The company received the cheque for this amount with the notification. At December 31, 2014 a review of the year end aged accounts receivable balance indicated the allowance for doubtful accounts should be $60,000. REQUIRED Prepare the journal entry to record i. the bad debt expense recorded during the year ii. the write-off of the Green Company Limited balance and subsequent recovery (assume payment received with the bankruptcy notice) iii. the year-end adjustment (if any) to the allowance for doubtful accounts.