Decks R Us has the following information reported on its 2013 comparative Balance Sheet: Additional information: During 2013, Docks R Us wrote-off $40,000 of accounts that had been specifically identified as uncollectible. Recovery of amounts previously written-off amounted to $12,000. Decks R Us makes all sales on account and collected an additional $ 3,700,000 in cash from other customers in 2013 (in addition to the $12,000 in bad debt recovery). Decks R Us uses the income statement method to estimate bad debt expense and, in both 2013 and 2014, estimates bad debts to be 2.5% of credit sales. What is the amount of Deck R Us" 2013 credit sales? If credit sales during 2014 were $5,000,000, what is the ending balance in the Allowance for Bad Debt account as of December 31, 2014 (after adjusting entries are recorded)? Decks R Us factors $400,000 of its accounts receivable with Prudential Bank on a without recourse basis on February 1, 2015. The receivables records arc transferred to Prudential Bank, who will receive the collections. Prudential remits 88% of the factored amount to Decks R Us. It retains 10% to cover sales returns and allowances and assesses a financing charge of 2% on the amount of the receivables. Prepare the appropriate journal entry to record this transaction on February 1, 2015 on the books of Decks R Us