Problem 8-6A Recording accounts receivable transactions and bad debt adjustments LO1, 2, 3 12 Peru Industries began operations on January 1, 2020. During the next two years, the company completed a number of transactions involving credit sales, accounts receivable collections, and bad debits assume a perpetual inventory system. These transactions are summarized as follows Book 2020 o. Sold merchandise on credit for $2.350.000 terms 1/30 (COGS $1.300.000) b. Wrote off uncollectible accounts receivable in the amount of $36.000 c. Received cash of $1,410,000 in payment of outstanding accounts receivable. d. In adjusting the accounts on December 31, concluded that 15% of the outstanding accounts receivable would become uncollectible 2021 e. Sok merchandise on credit for $3.080.000, terms n/30 (COGS = $1682000) f. Wrote off uncollectible accounts receivable in the amount of $56,000 g. Received cash of $2.330,000 in payment of outstanding accounts receivable h. In adjusting the accounts on December 31. concluded that 15% of the outstanding accounts receivable would become uncollectible Company uses the allowance method to account for uncollectible. Required: Prepare journal entries to record Peru's 2020 and 2021 summarized transactions and the adjusting entries to record bad debt expense at the end of each year. (Round your intermediate calculations and final answers to nearest whole dollar.) 2020 View transaction list Journal entry worksheet 1 2 3 4 5 Record the sales. Note: Enter debts before credits General Journal Debit Credit Transaction 8-1 Record entry Clear entry View general Journal Journal entry worksheet Record the sales. Note: Enter debits before credits. Transaction General Journal Debit Credit e-1 Record entry Clear entry View general journal