On December 31, 2023, Mills Manufacturing Ltd. had a $190,000 balance in its Accounts Receivable and a $9,400 balance in its Allowance for Expected Credit Losses. During 2024, the company made total sales of $940,000, of which $210,000 were cash sales. By the end of the year, Mills had received payments of $652,000 from its customers on account. The company also wrote off as uncollectible $12,800 of its receivables when it learned that these customers had declared bankruptcy. The company was subsequently able to recover $5,100 from one of C06CashAndAccountsReceivable. these customers. After grouping its receivables based on credit risk characteristics and estimating the expected rate of credit losses for each group, management estimates that total expected credit losses will be $23,600.

Required 

a. Prepare the journal entries to record all of the 2024 transactions, including the adjustment for credit losses at year end. 

b. Show how the accounts receivable section of the statement of financial position at December 31, 2024, would be presented. 

c. What amount of credit losses would appear in the statement of income for the year ended December 31, 2024?