Special Delivery Inc. sells only one product, a hospital gown designed specifically for mothers to wear during childbirth. The gowns are sold to hospitals and clinics across Canada. On January 1, 2019 the company had the following opening account balances: Cash Inventory (200 gowns x $25 per unit) Accounts receivable Allowance for doubtful accounts Contributed capital Retained earnings 6,000 debit 5,000 debit 9,000 debit 1,000 credit 14,000 credit 5,000 credit Other information: 1. Special Delivery Inc. uses the perpetual method to account for its inventory and values its inventory using the First-in First-Out basis. 2. Special Delivery Inc. uses the aging method to determine its allowance for doubtful accounts using the following rates: Accounts not yet due 1% Accounts 1-60 days overdue 10% Accounts over 60 days overdue 20% 3. Trade terms are 2/10, net 30 on sales. No discount is available for early payment to suppliers. The following were the only transactions that occurred during the first quarter of 2019: Date Jan 7 Jan 30 Jan 31 Feb 12 Feb 20 Feb 23 Feb 25 Mar 25 Transaction Received $8,500 cash from the collection of accounts receivable. Wrote off the remaining accounts receivable as uncollectible. Purchased 150 gowns for $30 each. Paid in cash Sold 150 gowns for $50 each for a total of $7,500 to Grand River Hospital on credit. Received full payment in cash from Grand River Hospital for the Feb 12th sale. Purchased 100 gowns for $35 each. Paid in cash. Sold 120 gowns for $55 each for a total of $6,600 to Sunnybrook Hospital on credit. Received 10 gowns back from Sunnybrook Hospital. Sunnybrook Hospital was given full credit for the goods returned. Required Prepare the necessary journal entries to record all transactions during the quarter and any necessary adjusting journal entries at the end of the quarter. Ignore income taxes