• Record the Allowance for sales discounts.
• Record the allowances for doubtful accounts.
• Record the bad debt expenses.
• Record the entry for exchange loss.
• Record the cash collected from financial institution was credited to an account called Miscellaneous credits.and at a discount rate of 3% during the period.
• Record the notes receivable of 89,000, three year note that bears interest rate of 3%.
• Record the entry for interest receivable and discount on notes receivable.

April Ltd. reported various selected balances in its 31 December 20x7 unadjusted trial balance: Accounts receivable Special accounts receivable Accounts receivable-U.S. Allowance for doubtful accounts Allowance for sales discounts $1,990,000 dr. 263,000 dr. 116,000 dr. 178,000 cr. 49,750 cr. The following transactions and events are noted: 1. An analysis of accounts receivable indicates that $990,000 are still in the discount period. An allowance of $99,000 is needed for sales discounts. 2. An analysis of accounts receivable indicated that $217,000 of accounts receivable should be written off. Of the remaining balance, 80% was current, and, after the allowance for sales discounts, approximately 5% was deemed doubtful. Of the 20% noncurrent, 75% was doubtful. 3. The U.S. account receivable was recorded when the exchange rate was $1.16. The exchange rate at year-end was $1.09. 4. The special account receivable was a single account receivable from a customer with an excellent credit rating that was transferred to a financial institution at a discount rate of 3% during the period. The cash collected from the financial institution was credited to an account called Miscellaneous credits. Management has determined that this transaction was to be recorded as a sale/derecognition but has not yet made the necessary entry. 5. The company has a note receivable that has not yet been recorded. The note is a $89,000, three-year note that bears an interest rate of 3%. Interest is paid annually. The note was issued on 1 November 20X7 because of a sale. The market interest rate for accounts of this risk is 6%. (PV of $1, PVA of $1, and PVAD of $1.) (Use appropriate factor(s) from the tables provided.) Required: Provide journal entries to reflect the above items. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round time value factor to 5 decimal places and final answers to the nearest whole dollar amount.)