Video Accounts receivable transactions are provided below for J Looney E8.7 (LO 2) AP Co. Record bad debts, write off, and collection of previously written-off account; calculate carrying amount. Dec. 31, The company estimated that 5% of its accounts 2020 receivable would become uncollectible. The balances in the Accounts Receivable account and Allowance for Doubtful Accounts were $650,000 and $2,300 (debit), respectively. Mar. The company determined that R. Mirza's $3,700 5, account and D. Wight's $6,900 account were 2021 uncollectible. The company's accounts receivable were $685,000 before the accounts were written off. June Wight paid the amount that had been written off 6, on March 5. Thexompany's accounts receivable were $641,000 prior to recording the cash receipt for Wight. 2021 Instructions a. Prepare the journal entries on December 31, 2020, March 5, 2021, and June 6, 2021. b. Post the journal entries to Allowance for Doubtful Accounts and calculate the new balance after each entry c. Calculate the carrying amount of the accounts receivable both before and after recording the cash receipt from Wight on June 6, 2021