PART 1 The following information is available for a company as of January 1, 2020: Accounts Receivable $250,000 Allowance for Doubtful Accounts (21,200) Accounts Receivable (net) 228.800 The following events took place during 2020: 1. During the year, the company sold services for $410,000 cash and $2.500.000 on credit. 2. On December 31, a decision was made to estimate bad debts as 0.5% of credit sales. 3. Accounts Receivable of $2,200 from prior years was determined to be uncollectible and was written off as a bad debt. 4. The company collected $2,250,000 of cash from accounts receivable. Required A. Prepare journal entries for each of the four events above that took place during 2020 B. Determine the Accounts Receivable (net) amount as of December 31, 2020. Show your work, which should include t-accounts for Accounts Receivable and the Allowance for Doubtful Accounts. C. Determine the receivables turnover ratio for 2019 and 2020. Credit sales for 2019 amounted to $1.610.000 and Accounts Receivable (net) as of December 31, 2018 was $210,000. Based on the turnover ratio, which year did the firm better manage its Accounts Receivable