Analyzing Accounts Receivable Changes In 2016, Grant Corporation recorded credit sales of $320,000 and bad debts expense of $4,200. Write-offs of uncollectible accounts totaled $3,900 and one account, worth $1,200, that had been written off in an earlier year was collected in 2016. a. Prepare journal entries to record each of these transactions. b. If net accounts receivable increased by $22,000, how much cash was collected from credit customers during the year? Prepare a journal entry to record cash collections. c. Set up T-accounts and post each of the transactions in parts a and b to them. d. Record each of the above transactions in the financial statement effects template to show the effect of these entries on the balance sheet and income statement.