PART 4 Receivable Valuation of Accounts Value: 14 points Breton Enterprises utilizes the allowance method of accounting for bad debts. You are the company accountant. You have calculated that required allowance for doubtful accounts at the year-end of December 31, 2020 is $5,600. REQUIRED: a) Assume the allowance for doubtful accounts had a credit balance of $1,040 at year-end before adjustment. Prepare the journal entry necessary to adjust the allowance to the amount indicated above at December 31, 2020. b) Assume the allowance for doubtful accounts had a debit balance of $1,560 at year-end before adjustment. Prepare the journal entry necessary to adjust the allowance to the amount indicated above at December 31, 2020. c) At February 28, 2021, Company management determined that the $ 4,500 amount due from Here-Today-Gone- Tomorrow Inc. was not collectible. Prepare the journal entry to write-off this account receivable. d) At March 30, 2021 the Company received $3,200 from Here- Today-Gone-Tomorrow that had been previously written-off. Prepare necessary journal entries