John's Famous Cookies, Inc. has the following accounts and balances at the beginning of the year.John follows the Allowance Method.

a. Accounts Receivable$40,000

b. Allowance for Doubtful Accounts3,000

c. Bad Debt Expense0

During the current year, the following transactions occurred:

a. He recorded credit sales of $530,000.

b. He added an additional $70,000 in Accounts Receivable.

c. He estimates that he will have 3% of his credit sales become uncollectible.

d. He received payments on Accounts Receivable in the amount of $30,000

e. He wrote off $5,000 in direct losses from customers that could not pay off their Receivables.

Starting with the beginning balances shown above, please show for each of the three accounts (listed above) where each transaction is recorded and the correct ending balances in Accounts Receivable,

Allowance for Doubtful Accounts and Bad Debt Expense.Hint:Some transactions show up in two accounts. Accounts Receivable Allowance for Doubtful AccountsBad Debt Expense

Beg. Balance_______________________________ _______________

List every transaction:

Equals Ending Balance ______________ __________________ ________________