Business Course Return to course O n 6 incomplete er Marked out of 5.00 Flag question Journal Entries for Credit Losses At the beginning of the year, Portal Company had the following accounts on its books Accounts Receivable $140,000 Debit Allowance for Doubtful Accounts S R.000 Credit During the year, credit sales were $1,173,000 and collections on account were $1,125.000 54.000 The following transactions, among others, occurred during the year Feb 17 wrote of Lowe's account May 28 Wrote of Byscount Oct. 13 Received $600 from Boyd, who is in bankruptcy proceedings in final settlement of the account written off on May 28 This amount is not included in the $1,175,000 collections Dec 15 Wrote off K. Marshall's account Dec 31 in an adjusting entry recorded the allowance for doubtful accounts at of credit sales for the year 09 a. Prepare journal entries to record the credit sales, the collections on account, and the preceding transactions and adjustment b. Show how Accounts Receivable and the Allowance for Doubtful Accounts would appear on the December 31 balance sheet. Date General Journal Description Debit Credit General Journal Description Debit Credit Date Dec 31 To record sales revenue for the year Dec.31 To record collections on account for the year Feb 17 To write off R. Lowell's account. May 28 To write off G. Boyd's account. Oct. 13 To reinstate G. Boyd's account for partial recovery Oct. 13 To record collection from G. Boyd. Dec 15 To write off K Marshall's account Dec. 31 To record allowance for doubtful accounts Please answer all parts of the