Please write it step by step, much appreciated.

Problem 3. At the beginning of the year Werling Corporation had a S530000 debit balance in Accounts Receivable and a $27,000 credit balance in the allowance for uncollectible accounts (also known as allowance for bad debt). During the year the company had total sales of S980.000. Of this amount S700,000 was on account. In addition, during the year the company collected $740,000 on accounts receivable and wrote off as uncollectible a customer's account in the amount of $12.000. The company uses the allowance method by estimating 3% of credit sales as bad debt Beginning with the appropriate T-accounts below indicate the beginning balances described above and show the entries necessary to record the following events (Be sure to label each entry by the letter next to the specified event): a. sales revenue, b. the collection of receivables, the write-off of the uncollectible account and, d. the estimate of bad debt expense for the period. e. When you have finished making the entries find the balance in the Accounts Receivable and Allowance for Bad Debt accounts f. Finally, write the names of the accounts which will be closed to the income statement (income summary) on the line provided Cash Accounts Receivable Allowance for Bad Debt 740, 4) (C) 12, 000 Sales Revenue Bad Debt Expense 2 poa (e) f. Which accounts are closed to the income statement