Ann Litigate is updating her bookkeeping records in preparation for the monthly meeting with her accountant. She has the following transactions to enter in the general journal, but she is not sure how to analyze the transactions in order to complete the entries. Use the chart of accounts on the inside front cover of this textbook and provide your analysis of the transactions listed below: 1. Ann invoiced her client on January 1 ($3,000), but the account is now more than 40 days past due. What is the entry? What options are available to Ann? 2. Ann earned $1,200 for legal services rendered on another client file. She received a partial payment ($700) by cheque, but there is an outstanding balance of $500. What is the entry?