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- Accounts receivable turnover? - Average collection period? Bad Debt Expense is 66152 Allowance for Doubtful Accounts is 66152

At December 31, 2016, Sandhill Co. Imports reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts 637,900 35.750 During 2017, the company had the following transactions related to receivables $2,920,000 89848 2,501200 41230 15.740 1. 2. 3. 4. 5. Saleson account Sales returns and allowances Collections of accounts recelvable Write-offs of accounts recelvable deemed uncollectible Recovery of bad debts previously written off as uncollectible You Answered Correct Answer Your answer is correct Prepare the journal entries to record each of these five transactions.Assume that no cash discounts were takenon the collections of accounts recelvable. Omit cost of goods sold entries.(Credit account titles are automatically indented when amount is entered. Do not indent manu No. Account Titles and Explanation Debit Credit 2,920,000.00 Sales revenue 2.920,00000 2 Sales returns and Allowances 89,848.00 Accounts Receivable 89,84800 3. Cash 2,501,200.00 Accounts Receivable 2,501,200.00 Allowance for doubtful accounts 41,230.00 Accounts Recelvable 41,23000 15,740.00 Allowance for doubtful accounts 15,740.00 To relinstate account previously written off) Cash 15,740.00 Accounts Receivable 15,74000

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