P7.6B (LO 2,3) (Journalize Various Accounts Receivable Transactions) The balance sheet of Clemons Company at December 31, 2019, includes the following: Notes receivable Accounts receivable $ 85,000 261,650 Less: Allowance for doubtful accounts 14,690 246,960 Transactions in 2020 include the following: 1. Accounts receivable of $200,000 were collected including accounts of $90,000 on which 1% sales discounts were allowed. 2. $7,600 was received in payment of an account which was written off the books as worthless in 2020. 3. Customer accounts of $21,680 were written off during the year. 4. At year-end. Allowance for Doubtful Accounts was estimated to need a balance of $18,680. This estimate is based on an analysis of aged accounts receivable. Instructions Prepare all journal entries necessary to reflect the transactions above.