Examine the following transaction: De Accounts Receivable 5,000 Cr. Allowance for Doubtful Accounts 5,000 Dr. Cash 5,000 Cr Accounts Receivable 5.000 What would be an appropriate journal entry descriptions for this transactions? Based on the following transactions, propare the necessary journal entries. 8 points a. During the first year of its business, Cougar Corp. sold services totaling $270.000 were sold on credit. b. During the first year, Cougar Corp. collected $210,000 in cash for the credit sales made during the year c. During the first year, Cougar Corp. properly wrote of $5,500 of its accounts receivable as they were deemed uncollectible d. Assume that Cougar Corpostimates bad debt using the percent of roosivables method Cougar Corp, did analysis and has estimated that 8% of their accounts receivable are uncollectible. Note: In order to completo this entry, you have to consider the facts from a band e. To enter the journal entries use the following example. If you want to debit equipment and credit cash for $2000, type the following: Debit Equipment S2000 Be sure to type the words dobit or credit at the start of each line and then do not worry about indonting Please add a upace atter each complute journal entry. Credit Cash S2000