EAT Corporation reported the following information on the financial statements for the year ended December 31, 2019 Accounts receivable $2,900,000 Allowance for doubtful accounts (debit) 35,000 Bad debt expense 195,000 During the year 2020, the company had the following transactions related to receivables: a) Sales were $18,000,000, of which $17,600,000 were on account b) Collections on accounts receivables were $16,700,000. This amount included a gross accounts receivable of $1,200,000 on which 2% of sales discount was allowed for prompt payment Accounts receivables written off were $189,000 d) Accounts previously written off that were recovered and collected $55,000. (Note: this amount is not included in the collections referred to in item (b) above.) e) The company uses the aging of accounts receivable method and has prepared an aging schedule, which indicates that the estimated amounts of uncollectible receivables on December 31, 2020 to be $220,000 1) Show what would be presented on the statement of financial position as at December 31, 2020 related to accounts receivable Instructions: Prepare journal entries to record the above transactions (a) to (e). Show all calculations for full marks. Round all answers to the nearest dollar. No decimal places