Question 1: Receivables, allowances for doubtful accounts, write off and subsequent recovery Outdoor Equipment sells camping equipment. On December 1, the accounts receivable account had a balance of $50,000 the bad debt expense account had a balance of $0 and the allowance for doubtful accounts had a credit balance of $5000. Journalize the remaining entries for the year 2020. Required: 1. Prepare journal entries to record the transactions. Note: write off of uncollectible accounts for Rocky Co. and Grouse Co. should be posted separately. 2. Draw and fill in the T accounts for account receivable, bad debt expense and allowance for doubtful accounts. Determine the ending balance for each account.