Problem 8-6A Recording accounts receivable transactions and bad debt adjustments (S) LO1, 2,33 CHECK FIGURES: d. Bad Debt Expense =$47,290; h. Bad Debt Expense =$63,155 Peru Industries began operations on January 1, 2023. The company plans to use the allowance method for uncollectible accounts During the next two years, the company completed a number of transactions involving credit sales, accounts receivable collections, and bad debts (assume a perpetual inventory system). These transactions are summarized as follows: 2023 a. Sold merchandise on credit for $2,250,000, terms n/30 (COGS $1,240,000 ). b. Wrote off uncoliectible accounts receivable in the amount of $34,000. c. Received cash of $1,330,000 in payment of outstanding accounts receivable. d. In adjusting the accounts on December 31 , concluded that 1.5% of the outstandine accounts receivable would become uncollectible. 2024 e. Sold merchandise on credit for $2,940,000, terms n/30 (COGS $1,592,000 ). f. Wrote off uncollectible accounts receivable in the amount of $53,000. g. Received cash of $2,210,000 in payment of outstandine accounts receivable. h. In adjustine the accounts on December 31 , concluded that 1.5% of the outstandine accounts receivable would become uncollectible Required Prepare journal entries to record Peru's 2023 and 2024 summarized transactions and the adjusting entries to record bad debt expense at the end of each year