ACCOUNTS RECEIVABLE JOURNAL ENTRIES Prepare journal entries to record the following transactions: (1) On December 15, 2010, the company recorded $150,000 sales on credit. Dec. 15 Ensure the equation still balances and debits - credits Assets Liabilities+Stockholders' Equity (2) On December 31, 2010, the company estimated bad debt expenses of $15,000. Dec. 31 Ensure the equation still balances and debits = credits Assets Liabilities+Stockholders' Equity (3) On January 12, 2011, collect $100,000 worth of accounts receivable. Jan. 12 2011 Ensure the equation still balances and debits-credits Assets Liabilities+Stockholders' Equity 9:55 G 4/8 4G (4) After many collection attempts, the Company determined on June 15, 2011 that it would not collect $10,000 in accounts receivables from Pendant Publishing. It decided to write-off this account. Jun 15 Enore the equation still balances and debits codis Assets Liabilities Stockholders' Equity (5) On July 16, 2011, Pendant Publishing called to say that they have had financial problems but can afford to pay $7,000 to settle their $10,000 debt in full. The company agreed to these terms, and reversed $7,000 of the prior write-off. It received a $7,000 check from Pendant the next day. Jul 16 Ensure the equation still balances and debits-credi Assets Liabilities Stockholders' Equity Post the above entries to the following T-accounts: - Accounts Receivable (A) - - Allowance for Doubtful Accounts (A)