At December 31, 2019. Fischer Co. had the following balances reported on its balance sheet. Accounts Receivable Allowance for Doubtful Accounts $75,000 20,000 During 2020, Fischer Co, recorded the following transactions: 1 Sales on account Sales for cash Total Sales $426,000 56.000 $482,000 Collections on account $260,000 Write-offs of uncollectible receivables $15,000 Instructions: Remember Journal Entries do not have dollar signs. Using the word bank below: (1) Journalize the transactions recorded in 2020, 2) Journalize Fischer's adjustment to record bad debt expense assuming Fischer estimates bad debts of 6% of credit sales Accounts Receivable Accounts Payable Word Bank Cash Cash Receivabla