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Question 5 (10 marks - 20 minutes) Growing Crystals Corp. has provided the following information relating to its sales for the past year, which ended December 31, 2020. The company uses the balance sheet (accounts receivable) method of accounting for bad debt expense. Estimated % of accounts receivable that will be uncollectable 5% Jan 1, 2020, balance in the allowance for doubtful account (this is before any adjusting entries) $2,000 cr Jan 1, 2020, balance in the accounts receivable account $40.000 de Credit sales (2020) Write offs of uncollectible accounts receivable (2020) Collections of previously written off amounts (2020) Cash received in payment of accounts receivable (2020) $650,000 $6.200 $900 $570,000 Required a. Prepare all journal entries to record the activity for the items listed above for 2020 (6 marks) b. Prepare any journal entries required at December 31, 2020 to record bad debt expense for the year. (4 marks)