This exercise continues the situation of Short Exercise S5-5, in which Scottish Products ended the year 20X4 with accounts receivable of $80,000 and an allowance for uncollectible accounts of $18,000. During 20X5, Scottish Products completed the following transactions:
1. Credit sales, $1,000,000
2. Collections on account, $880,000.
3. Write-offs of uncollectibles, $16,000
4. Uncollectible-account expense, 1.5% of credit sales
Journalize the 20X5 transactions for Scottish Products. Explanations are not required.