Question 3: (12 marks) In 2021, Matthews Company's first year of operations, the following transactions occurred: (a) Inventory costing S372,000 was sold on credit to customers for a total of $534,000. Johnson uses a perpetual inventory system. (b) During the year, Jung wrote off specific customer accounts totalling $7,000 (c) Cash was received from customers as payment on account, $275,000 (d) Jung estimated that 2.5% of ending accounts receivable would become uncollectible. Required: Prepare journal entries to record the above transactions. Date all entries at December 31, 2021. Show supporting calculations for entry (d)