During its first year of operations, Middleton Products Inc. had sales of $850,000, all on account. Industry experience suggests that Middleton Products uncollectibles will amount to 5% of ending accounts receivable. At the end of the first year, December 31, 2019, Middleton Products' accounts receivable total $80,000. The company will use the allowance method to account for uncollectibles During 2020, Middleton Products completed the following transactions: i Credit Sales, $1,200,000 ii) Collections on account, $960,000 i Write-offs of uncollectibles, $2,800 iv) The company expects that $15,000 of its December 31, 2020 accounts receivable will be uncollectible. Required: a) Prepare Middleton Products' journal entry for bad debt expense on December 31, 2019 using the aging-of-receivables method b) Prepare the journal entries to record Middleton Products' 2020 transactions c) At December 31, 2020, what is the net realizable value of the company's accounts receivable