Can someone please solve this Question 4, Thanks!

List of Accounts-

Accounts Payable

Accounts Receivable

Advertising Expense

Allowance for Expected Credit Losses

Bank Charges Expense

Bank Loan Payable

Cash

Credit Losses

Debit Card Expense

Income Tax Receivable

Insurance Expense

Interest Expense

Interest Revelue

No Entry

Notes Payable

Notes Receivable

Sales Revenue

Utilities Expense

Crane Ltd began operations in January 2023. On December 31, 2023, the end of its first year of operations, the balance in the company's Accounts Recelvable account was $135,000. All of the company's sales are made on account, and during 2023 , 8035 of the total credit sales were collected, and no accounts were written off as uncollectible. Crane's management grouped its receivables based on credit risk characteristics, including geographic location and the length of time the recelvables have been outstanding, and estimated the expected rate of credit losses for each group. Based on this, management estimated that the expected total credit losses would be $13,500. During the following year, 2024, Crane had sales totalling $1,034,000. it collected 75% of these sales, together with 95% of the outstanding receivables from 2023 . Durine 2024 , the company wrote off $18,700 of recelvables from customers whose accounts were determined to be uncollectible. During the year the company also recovered $2.900 from customers whose accounts had previously been written off. (Note that this amount was not included in the collection figures given above.) Management. determined that the expected totalcredit losses would be 523550 . (a) Prepare the necessary ioumal entries for recording all of the precedine transactions in the accounting system of Crane Ltd for 2023 and 2024 . FCrdit occount tilles are outomotically indentnd when amount b entered. Do not indent marual . Hf no entry is required, select "No Entry' for the accouent bieles and enter O for the amounts (List all debit entries before credit entries.) Prepaie the nectssary fournal entrics for recordin Eallof the peectding trancactions in the inctountang systera of craine ifi- ion reiect "No Entry' for the dccount tities ond enter Ofor the armounts. Lint alf detit entries before creafit entries) Question 4 of 5 (To write off accounts judged uncollectible) (To reinstate an account that was previously witten off) (To record subsequent collection of accounts that were previously written off) (To recognize the credit losses) eTextbook and Media List of Accounts Sive for tater Attempts: 0 of 2 used (b) The parts of this question must be completed in order. This part will be available when you complete the part above