Part B Accounts Receivable and Notes Receivable - 14 marks Your company uses the aging of accounts receivable method to estimate bad debt expense at year end, December 31". The balance of the allowance for doubtful accounts is a $1,000 credit. Required: Prepare the necessary journal entries for the following items. Date each journal entry. Please leave a space between journal entries. (No explanations.) Dec. 15 Lent $24,000 cash to J. James, receiving a 2-month, 6% note. Dec. 20 Wrote off a $500 uncollectible account from a customer, E. Rabbit. Dec.31-a Accrued interest revenue on the notes receivable. Dec. 31-b Calculated the year end estimate for bad debts based on the aging method. The total accounts receivable of $140,000 are all under 30 days old and have an estimated uncollectible percentage of 1.4%. Required: Also record the journal entry below for the following year: Feb. 15 Received full payment (including interest) from J. James on the 2-month note issued on December 15. Mar. 15 E. Rabbit returned from his year long vacation and paid the balance previously written off on December 20th Part B - Accounts Receivable and Notes Receivable - 14 marks Your company uses the aging of accounts receivable method to estimate bad debt expenso at year and, December 31". The balance of the allowance for doubtful accounts is a $1,000 credit Required: Prepare the necessary joumal entries for the following items. Date each journal entry. Please leave a space between journal entries. (No explanations.) Dec. 15 Lent $24,000 cash to J. James, receiving a 2-month, 6% note. Dec. 20 Wrote off a $500 uncollectible account from a customer, E. Rabbit Dec 31-a Accrued interest revenue on the notes recolvable. Dec. 31-b Calculated the year end estimate for bad debts based on the aging method. The total accounts receivable of $140,000 are all under 30 days old and have an estimated uncollectible percentage of 14%. Required: Also record the foumal entry below for the following year Feb. 16 Received full payment (including interest) from J. James on the 2-month note issued on December 15 Mar. 16 E. Rabbit returned from his year long vacation and paid the balance previously written off on December 20