The accounts of Quickly Company provided the following 20x4 information at 31 December Accounts receivable balance Allowance for cales discounts Allowance for doubtful accounts $610,000 (dr) 5.900 (cr.) 44,000 r.) 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 $69,800 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 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.) nts Shipped View transaction list eBook Journal entry worksheet Print 1 2 ferences Record the adjusting entry related to allowance for sales discount. Note: Enter debits before credits Transaction General Journal Debit Credit 1 View transaction list Journal entry worksheet