Norse began the year with the following balances in its accounts receivable and allowance for doubtful accounts: Accounts Receivable Balance, 1/1/x6:\$1,275,500 Allowance for Doubtful Accounts, 1/1/x6: $42,100 For Q1 - Q3, Norse Enterprises uses the income statement method, applying a 0.5% estimate to net credit sales. At the end of Q4, Norse utilizes the balance sheet method with a comprehensive aging schedule of accounts to prepare its audited annual reports. Tohle 1. Simmoriond Table 2: A ging schedule used for determinino had doht mrnence at the ond of the vear a. Record the joumal entries indicated by the transactions indicated in Table 1 (record effects to A/NII with each entry). b. Provide the bad debt expense adjustments for each quarter (record effects to A/NI with each entry). Use the income statement method for each interim quarter. The quarter four adjustment will be done by the balance sheet method using the aging schedule provided above. c. Provide the NRV of receivables at the end of each quarter that would be reported on the balance sheet. Hint: Keep a constant t-account for Accoumts Receable and ADA along with journal entries for the taccotonts. Parts A&B should be worked in tandem. A is simply the normal entries during the period, B is the adjusting entry at the end of each quarter (bad debt adjustments are made at the end of each quarter). Here are check figures for the end of each quarter