Based on the following transactions, prepare the necessary journal entries. 8 points:

a. During the first year of its business, Cougar Corp. sold services totaling $600,000 were sold on credit.

b. During the first year, Cougar Corp. collected $410,000 in cash for the credit sales made during the year. c. During the first year, Cougar Corp. properly wrote off $6,000 of its accounts receivable as they were deemed uncollectible. d. Assume that Cougar Corp. estimates bad debts using the percent-of-receivables method. Cougar Corp. did analysis and has estimated that 12% of their accounts receivable are uncollectible. Note: In order to complete this entry, you have to consider the facts from a., b., and c.