Problem 8-1A At December 31, 2018, Metlock, Inc. reported the following information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts 82,000 $971,000 During 2019, the company had the following transactions related to receivables 1. Sales on account 2. Sales returns and allowances 3. Collections of accounts receivable 4. Write-offs of accounts receivable deemed uncollectible 5. Recovery of bad debts previously written off as uncollectible 30,000 S3,833,200 45,000 2,779,000 99,000 a) Prepare the journal entries to record each of these five transactions. Assume that no cash discounts were taken on the collections of accounts receivable. b) Enter the January 1, 2019, balances in Accounts Receivable and Allowance for Doubtful c) Prepare the journal entry to record bad debt expense for 2019, assuming that an aging of Entry Accounts, post the entries to the two accounts (use T-accounts), and determine the balances. accounts receivable indicates that expected bad debts are $326,200. Accounts Debits Credits 2. 4