Accounting for bad debt: comprehensive exercise Part 1 Stark Enterprises (SE) specializes in producing customized gloves that enhance the flexibility of the hand, making movements such as snapping one's fingers easier. The company started in 2021, and the following transactions occurred in 2021 (all numbers in thousands): 1. Credit sales of $10,000 on 1/12/2021. 2. On March 1", 2021, collected $8000 cash from the sales on 1/12. 3. At the end of 2021, SE's CFO, Ms. Pepper Potts, estimated that 10% of the remaining outstanding accounts receivables are uncollectible. Prepare journal entries for the above transactions and post them to the relevant T-accounts. Part 2 In 2022, the following transactions occurred for Se: 1. A customer, Asgard Corp filed for bankruptcy on 2/1. The $200 that Asgard owed SE was written off 2. On 3/16, after rounds of negotiation, Asgard was able to emerge from bankruptcy and reorganize itself into a new company, Asgardians of the Galaxy Inc. SE thus was able to recover and collect $100 that Asgard owed them. 3. Se further generated $3,000 in credit sales during 2022 and all of the $3,000 and the beginning balance of accounts receivable of 2022 were still outstanding at the end of 2022, except for the amount written off and recovered from Asgard. At the end of 2022, SE estimated again that 10% of the outstanding accounts receivables are uncollectible. Prepare journal entries for the above transactions and post them to the relevant T-accounts. Part 3 In 2023, SE wrote off $500 accounts receivable, and estimated at the year-end that 10% of the remaining accounts receivable are uncollectible. Prepare journal entries for the above transactions and post them to the relevant T-accounts