At December 31, 2019, Dixon Co. reported the following information on its balance sheet. Accounts receivable Rs.800,000 Less: Allowance for doubtful accounts Rs.75,000 During 2020, the company had the following transactions related to receivables 1. Sales on account Rs.4,000,000 2. Sales returns and allowances Rs.100,000 3. Collections of accounts receivable Rs.3,500,000 4. Write-offs of accounts receivable deemed uncollectible Rs.60.000 5. Recovery of bad debts previously written off as uncollectible Rs. 15,000 Required (a) Prepare the journal entries to record each of these five transactions. (b) Enter the January 1, 2020, balances in Accounts Receivable and Allowance for Doubtful Accounts, post the entries to the two accounts (use T accounts), and determine the balances. (c) Prepare the journal entry to record bad debts expense for 2020, assuming that an aging of accounts receivable indicates that expected bad debts are Rs. 120,000