OP Germosen Lewis Abdul & Melina (GLAM) uses the allowance and Income Statement approach to account for bad debt. Glam had the following transactions in 2019 and year end 2018 as pertains to Bad Debt. Prepare the journal entries and determine the net realizable value as of December 31" 2019. Dec 31" 2018: Estimated bad debt for 2019 would be 3% of expected credit sales of $360,000. Dec 31" 2018: Closed the Bad Debt expense account. Jan 16" 2019: Wrote off the account of Porciano Penniless, $800. March 15" 2019: Wrote off the account of Melina Moneyless, $2,500. April 15" 2019: Collected $1,550 of a $2,550 balance due from Germogirl. Wrote off the remaining balance. June 20" 2019: Porciano Penniless paid the amount written off on January 16". August 11" 2019: Wrote off the account of Dry Saha, $3,500. October 31" 2019: Wrote off account of Abe Chow, $1,250. Dec 31" 2019: Closed the Bad Debt expense account