Your company had the following balances on December 31, 2021 (LAST year) before closing the panber During 2022, your company completed the following summarized transactions. 1. Your company sold $200,000 of merchandise for $480,000 on account, terms 2/10,n/30. Assume your company uses a PERIODIC inventory system and the NET method of discounts. 2. Your company collected $300,000 of the total accounts receivable within the discount period. 3. Your company collected an additional $121,000 of the total accounts receivable outside of the discount period (more than 10 days after the date of the sale). 4. On October 1, 2022, you loaned $120.000 to another company and received a nine month, 6% note. 5. Your company wrote off $1,800 of past due accounts receivable. 6. One customer returned a product which cost $410 and had been sold for $1,000. This customer still owed for the product so you simply credited their account. 7. At the end of the year, your company estimated bad debts would be 1% of NET sales for the year. 8. At the end of the year, you accrued interest on the note in #4 above. INSTRUCTIONS: A. Prepare journal entries for the eight transactions above. B. Calculate the ending balance in Accounts Receivable for 2022 . Show your calculations and label your numbers. C. Calculate the ending balance of Bad Debts Expense for 2022. Show your calculations and label your numbers