Help Gave & E Problem 8-6A Recording accounts receivable transactions and bod debt adjustments LO1, 2, 3 Peru Industries began operations on January 1 2020. During the next two years, the company completed a number of transactions involving credit sales, accounts receivable collections, and bad debts (assume a perpetual inventory system. These transactions are summarized as follows 2020 o. Sold merchandise on credit for $2.210,000 terms 11/30 COGS - S1,221000) b. Wrote of uncollectible accounts receivable in the amount of $33,700 c. Received cash of $1319.000 in payment of outstanding accounts receivable d. In adjusting the accounts on December 31, concluded that 15% of the outstanding accounts receivable would become uncollectible 2021 e. Sold merchandise on credit for 52,893,000, terms n/30 (COGS = $1,576,000) 1. Wrote off uncollectible accounts receivable in the amount of $52.400 9. Received cash of $2185,000 in payment of outstanding accounts receivable h. In adjusting the accounts on December 31, concluded that 15% of the outstanding accounts receivable would become uncollectible Company uses the allowance method to account for uncollectible Required: Prepare journal entries to record Peru's 2020 and 2021 summarized transactions and the adjusting entries to record bad debt xpense at the end of each year (Round your intermediate calculations and final answers to nearest whole dollar) Prepare journal entries to record Peru's 2020 and 2021 summarized transactions and the adjusting e expense at the end of each year. (Round your intermediate calculations and final answers to neare 2020 View transaction list Journal entry worksheet Record the sales. Note: Enter debits before credits Transaction General Journal Debit Credit a-1 Journal entry worksheet 3 5 Record cost of sales. Note: Enter debits before credits. General Journal Transaction a-2 Record written off uncollectible accounts. Note: Enter debits before credits. Transaction General Journal Debit b entry Vorksheet