Honey Dewey Pty Ltd. reported the following information on its balance sheet for 31 December 2019: $ Accounts receivables Less: Allowance for doubtful accounts 960,000 80,000 During 2020, the company had the following transactions related to receivables: Sales on account 3,200,000 Sales returns and allowances 50,000 Collections of accounts receivable 2,810,000 Write-offs of accounts receivable deemed uncollectible 90,000 Recovery of bad debts previously written off as uncollectible 24,000 Required: Prepare the journal entries to record all the five transactions assume the company uses periodic inventory method.