Bloasom Equipment Salas Company, which sells only on account, had a \$132, 000 balance in its Accounts Receivable and a \$6,000 balance in its Allowance for Expected Credit Losses on December 31, 2023. During 2024, the company's sales of equipmantware $826,000, and its tatal cash callections from customers ware $782,000. During year, the company identifed custamers with accounts totalling $8,000 that would be unable to pay and wrote these raceivables off. However, one of these customers subsequently made a payment of $900. Note that this amount is not included in the cash callections noted above.] A.t the and of 2024, management grouped its receivables based on credit risk and estimated the expected rate of eredit loses for each group. Based on this, managemant determined that the total expected credit losses would be $7,060. (a) Prepars the journal entries to record all of the 2024 transactions, including the adiustment for cradit losses at year end. (Credit he Show how the accounts receivable section of the statement of financial position at December 31,2024 , would be presented