On Dec 31 2019, financial statements of Joe Biden Construction Inc. had Accounts Receivable of $550,000 debit and Allowance for Doubtful Accounts of $12,000 credit. During 2019, the following transactions have occurred: net credit sales $2,600,000; collections from customers $2,350,000; accounts written off $30,000 and previously written off accounts of $2,000 were collected.Instructions (a) Journalize the 2019 transactions. (b) If the company anticipates 11% of account receivables to be uncollectible, what is the adjusting entry at December 31, 2019? (c) If the company determines that uncollectible accounts are expected to be 4% of net credit sales, what is the adjusting entry at December 31, 2019?

please explain the situation step by step.