At January $1,2024,$ Rubois Co$.$ reported the following on its Statement of Financial Position:Each account above has its normal balance.Required:a$.$ Prepare the journal entries for the year in the general journal provided. No explanations required.IDuring $2024,$ the company had the following transactions for receivables:

$1.$ Collection of Account previously written off as uncollectible, $$10,500$

$2.$ Sales were $$3,900,000$ of which $$1,500,000$ was collected immediately in cash with the balance on account. Related costs were $$3,120,000.$

$3.$ Collections of Accounts Receivable, $$2,600,000$

$4.$ Sales and Returns Allowances, $$53,000,$ all relate to credit customers.

$5.$ Write$-$off of Accounts Receivable deemed uncollectible, $$68,000$

b$.$ After all the transactions for the year are posted, calculate the amount that would be debited to Bad Debt Expense at year end if the company bases their uncollectibles on $3\%$ of the total accounts receivable.

Solve this question with proper calculations step by step with proper journal entry for each