Question 3: Del Monte Company's balance sheet as of December 31, 2018 showed Accounts Receivable debit balance of $780,000 and Allowance for Doubtful Accounts credit balance of $16,900. During January 2019, the transactions affecting accounts receivable were as follows: a) Sales on account $ 160,000 b) Sales returns and allowances 23,000 c) Cash collections from customers 142,200 d) Accounts receivable from Ruari Inc. written off 9,100 After an analysis of an aging schedule of all customer's accounts on January 31, 2019, Del Monte decided that Allowance for Doubtful Accounts should be adjusted to a balance of $15,800 Required: a) Using January 1 as the transaction date, record the entry in the general journal for each of the four above items and the adjusting entry on January 31 to adjust the allowance for doubtful accounts. b) Record the entries in the general journal assuming that on July 31, 2019, seven months after the receivable from Ruari Company had been written-off as worthless, Ruari Company settled the account by sending Del Monte Co. a check for $5,300