Please show all supporting computations. Points will be deducted if you do not show your work. 1. The December 31, 2018 balance sheet for Campbell, Inc. included the following: Debit Credit Accounts receivable $ 145,000 Allowance for doubtful accounts 12,500 1 12.50 During 2019, the following transactions occurred: 1. Sales on account $760,000. Campbell uses the gross method for sales recording. 2. Sales returns and allowances, S37,000 3. Collections from customers, S695,000 of which S65,000 qualified for a 1% discount. 4. Accounts written off, $15,000. 65000X 650 5. Previously written off accounts of $3,500 were collected. 64.350 6. At year-end, the allowance for doubtful accounts was estimated to need a balance equal to 6.5% of the gross ending accounts receivable balance. 145,00 Dyl:57.9425 allowance Journalize the 2019 transactions. Disregard any impact on inventory. (3 points) Entry # Account Titles Debit Credit Alle Receivable 700,000 194 I sales revence 760 poo 2 sales returns & allowances 32,000 -3075 2 Acct receivable 137,000 Cash 37.000 I acct receivabu 37.000 3 acct receivable 1695,000 1694,350 Los uwance for downtut dlounts 15.000 unds Civable 15.DOO - accounts receivable 3500 Ou dwonus 13500 cash 3500 O counts receivable 3500 I bod debt expense 3015 6 allowanca for doubtful accts, 3015 991