At December 31, 2010, Cafu Co. reported the following information on its statement on financial position.
Accounts receivable...............R$960,000
Less: Allowance for doubtful accounts......... 80,000
During 2011, the company had the following transactions related to receivables.
1, Sales on account.....................R$3,200,000
2. Sales returns and allowances....................50,000
3. Collections of accounts receivable................2,810,000
4. Write-offs of accounts receivable deemed uncollectible...........90,000
5. Recovery of bad debts previously written off as uncollectible.......24,000

Instructions
(a) Prepare the journal entries to record each of these five transactions. Assume that no cash discounts were taken on the collections of accounts receivable.
(b) Enter the January 1, 2011, balances in Accounts Receivable and Allowance for Doubtful Accounts, post the entries to the two accounts (use T accounts), and determine the balance.
(c) Prepare the journal entry to record bad debts expense for 2011, assuming that an aging of accounts receivable indicates that expected bad debts are R$115,000.
(d) Compute the accounts receivable turnover ratio for 2011.