Play It Again Company sells vinyl records. During the year the following transactions occurred related to sales and accounts receivable. PART 1 -Prepare journal entries for each of the following transactions and complete T-accounts for Accounts Receivable and the Allowance for Doubtful Accounts (next page). The beginning balance irn Accounts Receivable is $2,158,750 and the beginning balance of the Allowance is $50,000. 1. During the year net credit sales totaled $7,500,000. (There's an amazing market for vinyl records!) 2. $7,250,000 of accounts receivable were collected. 3. Accounts totaling $6,660 which had been written off in the previous year as uncollectible were collected this year. These accounts must be reinstated in order to record the collection. 4. The company wrote off the $12,750 balance owed from a company which declared bankruptcy 5. Received 25% of the $22,000 balance that was owed by Hayden Company and wrote off the remainder as uncollectible 6. Wrote off additional accounts totaling $24,000 as uncollectible. Allowance for Doubtful Accounts and Determine the unadjusted balances of Accounts Receivable and write them in the T-accounts