The accounts of Quickly Company provided the following 20X4 information at 31 December Alowance for sales discounts Allowance for doubtful accounts $790,000 (dr.) 7.400 (ar.) 59,000 (ar) In fact, the allowance for sales discounts is not needed at the end of 20X5 and aging shows that the allowance for doubtful accounts should be $87,800 Required: 1. Prepare journal entries to adjust all allowances. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list view journal entry worksheet No General Journal Debit Credit Sales Sales discounts Sales