Eastwick Company Is Preparing Its Financial Statement for the Year

Eastwick Company is preparing its financial statement for the year ended December 31, 2020. A summary of Eastwick's accounts receivable sub-ledger shows the following information:
$$\begin{array} { l r r r r } \text { Days outstanding } & \mathbf { 0 - 3 0 } & \mathbf { 3 1 - 9 0 } & \mathbf { 9 1 + } & \text { Total } \\\text { Balance outstanding } 12 / 31 / 20 & \$ 5,500,000 & \$ 2,500,000 & \$ 250,000 & \$ 8,250,000 \\\text { Estimated default rate } & 0.6 \% & 2.0 \% & 9.0 \% &\end{array}$$ $\begin{array}{llcc} \text { Accounts written off in 2020 } &\$80,000 \\ \text {Collection of accounts written off in other periods } &1,000\\ \text {Allowance for doubtful accounts, 01/01/2020 } &115,000\\\end{array}$
Required:
a. Calculate the amount of bad debts expense required for 2020.
b. Present the journal entry to record bad debts expense for 2020.
c. Present the journal entry that was used to record write-offs for 2020.
d. Independent of the information above, suppose Eastwick factored $1,500,000 of receivables without recourse. In exchange, it received $1,380,000. Present the journal entry to record this transfer of receivables.
e. Independent of part (d), Eastwick instead factored the $1,500,000 of receivables with recourse and received $1,430,000 cash. Both Eastwick and the factor anticipate that 2% of these receivables will prove to be uncollectable, so the factor has held this amount to cover any uncollectable accounts. Should the amount of uncollectable accounts prove to be more or less than 2%, the difference will be paid by/refunded to Eastwick. Present the journal entry to record this transfer of receivables.