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Accounts Receivable (Piano Concerto No. 1) (14 points) Tchaikovsky Corp had the following subsection of their balance sheet pertaining to accounts receivable at year end

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Accounts Receivable (Piano Concerto No. 1) (14 points) Tchaikovsky Corp had the following subsection of their balance sheet pertaining to accounts receivable at year end 2019: Accounts Receivable $682,000 Less: Allowance for Doubtful Accounts $14,000 Accounts Receivable, net $668,000 Using this information, create the necessary journal entries for 2020 for the following events: 1/12 Generated sales of $450,000 on account (ignore the cost of goods sold entry) 3/15 Wrote off $18,500 worth of uncollectable accounts 6/21 Collected $820,000 worth of outstanding accounts receivable 10/12 Reversed $1,500 previously written off accounts and collected the $1,500 owed 12/31 Journalized the year-end adjusting entry to reflect that 2% of outstanding accounts receivable are expected not to come in for 2021

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