Adams Co. had a beginning balance in Accounts Receivable of $500,000 and a beginning credit balance in the Allowance for Doubtful Accounts of $15,000. During the year they sold $800,000 of goods on credit and collected $600,000. Adams wrote off $5,000 from a bankrupt customer. Adams estimates that 3% of their ending accounts receivable will eventually not be collected. Record the journal entry to record the sale of goods on credit during the year: Account name Debit Credit Description: Record the journal entry to record the collection of Accounts Receivable during the year: Account name Debit Credit Description Record the journal entry to recognize the account written off during the year: Account name Debit Credit Description: Record the journal entry necessary to adjust the allowance account at the end of the year Account name Credit Description