Problem 3-Receivables (13 marks) Pessimist Inc. reported credit sales of $5,400,000 and $4,800,000 for the years onded December 31, 2020 and 2021, respectively. Information on trade accounts receivable for the company is presented below. Days outstanding Current 31-60 61-90 Balance in accounts receivable December 31, 2020 $397,000 $156,000 47.000 17.000 Balance in accounts receivable December 31, 2021 392.000 141,000 33.000 26.000 % of accounts receivable estimated to be uncollectible 0.8% 5% 6. The balance of the allowance for doubtful accounts as of January 1, 2020 was $15,000. In addition, you learn that the company wrote off specific accounts of $18,500 in 2020, and the bad debts expense was $13,000 in 2021. Required: a. Determine the bad debts expense for 2020. b. Prepare the journal entry to record the bad debts expense for 2020. c. Determine the amount of receivables written off during 2021