At December 31, 2013, Cafu Co. reported the following information on its statement of financial position. Accounts receivable R$960,000 Less: Allowance for doubtful accounts 70,000 During 2014, the company had the following transactions related to receivables.
1. Sales on account R$3,315,000
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 29,000

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, 2014, balances in Accounts Receivable and Allowance for Doubtful Accounts, post the entries to the two accounts (use T-accounts), and determine the balances.
(c) Prepare the journal entry to record bad debt expense for 2014, assuming that an aging of accounts receivable indicates that expected bad debts are R$125,000.
(d) Compute the accounts receivable turnover ratio for 2014, assuming the expected bad debt information presented in (c).