The following transactions occurred in summary form:

1. Sale of merchandise on account, 2/10, n/30 4,000,000
2. Collection within the discount period 1,470,000
3. Collection beyond the discount period 1,000,000
4. Sales return granted 100,000
5. Sales return estimated at the end of the year 20,000

• Prepare Journal entries to record the transactions a-e, also provide the ending balance for accounts receivable and sales discount forfeited.