On July 31, 2014, DAmico Management Inc. reported the following account balances in its financial statements:

Accounts receivable............................................................. $ 960,000

Allowance for doubtful accounts......................................... $ 82,000

Bad debt expense................................................................. $ 78,000

During Aug 1 and Dec 31, 2014, DAmico Management Inc. had the following transactions related to receivables, which occurred in order: The company prepares financial statements annually.

a. Sales were $4,000,000, of which $3,200,000 were on account.

b. Collections of accounts receivable were $3,100,000.

c. Write-offs of accounts receivable were $80,000.

d. Recoveries of accounts previously written off as uncollectible were $5,000.

1. Prepare the journal entries at the end of 2014 to record each of the four transactions (a)-(d) above.