On January 1, 2014, Template Company showed the following account balances: Accounts receivable 1,000,000 Allowance for doubtful accounts 40,000 The following summary transactions occurred during the current year: 1. Sales on account, 2/30, n/30 7,000,000 2. Collections from customers within the discount period 2, 450,000 3. Collections from customers beyond the discount period 3, 900,000 4. Accounts receivable written off as worthless 30,000 5. Recovery of accounts previously written off not included in the above collections 10,000 6. Credit memo for sales return 70,000 a. Prepare journal entries pertaining to accounts receivable. b. Prepare the adjustment for doubtful accounts on December 31, 2014 if the entity uses the percentage of accounts receivable method consistently. c. What is the net realizable value of accounts receivable on December 31, 2014