Wilcox Mills is a manufacturer that makes all sales on 30-day credit terms. Annual sales are approximately $30 million. At the end of 2012, accounts receivable were presented in the company's statement of financial position as follows: Accounts receivable from clients Less: Allowance for Impairment $3,100,000 80,000 During 2013, $165,000 of specific accounts receivable were written off as uncollectible. Of these accounts written off, receivables totaling $15,000 were subsequently collected. At the end of 2013, an aging of accounts receivable indicated a need for a $90,000 allowance to cover possible failure to collect the accounts currently outstanding. Wilcox Mills makes adjusting entries for uncollectible accounts only at year-end. 1. One entry to summarize all accounts written off against the Allowance for Impairment during 2013. 2. Entries to record the $15,000 in accounts receivable that were subsequently collected. 3. The adjusting entry required at December 31, 2013, to increase the Allowance for Impairment to $90,000 Wilcox Mills makes adjusting entries for uncollectible accounts only at year-end. 1. One entry to summarize all accounts written off against the Allowance for Impairment during 2013. 2. Entries to record the $15,000 in accounts receivable that were subsequently collected. 3. The adjusting entry required at December 31, 2013, to increase the Allowance for Impairment to $90,000 a. Prepare the above general journal entries. (Omit the "$" sign in your response): Debit Credit Date General Journal 2013 Var.* Allowance for Impairment Accounts receivable 180,000 180,000 Var.* Accounts receivable Allowance for Impairment 15,000 15,000 Var.* Cash Accounts receivable 15,000 15,000 Dec. 31 Impairment loss of receivable Allowance for Impairment 330,000 330,000 *The first three entries summarize entries occurring at various dates throughout 2013 References Worksheet Difficulty: Strong Learning Objective: 07-05 Account for uncollectible receivables using the allowance and direct write-offm Problem 7.4A Accounting for Learning Objective: 07-01 Define financial assets and