1. Prepare summary journal entries to account for the 2021 write-offs and the collection of the receivable previously written off.

Raintree Cosmetic Company sells its products to customers on a credit basis. An adjusting entry for bad debt expense is recorded only at December 31, the company's fiscal year-end. The 2020 balance sheet disclosed the following: Current assets: Receivables, net of allowance for uncollectible accounts of $33,000 $ 447,000 During 2021, credit sales were $1,765,000, cash collections from customers $1,845,000, and $38,000 in accounts receivable were written off. In addition, $3,300 was collected from a customer whose account was written off in 2020. An aging of accounts receivable at December 31, 2021, reveals the following: Percentage of Year-End Receivables in Group 70% Age Group 0-60 days 61-90 days 91-120 days Over 120 days Percent Uncollectible 5% 15 20 40 20 5 5 Journal entry worksheet 1 2 3 Record accounts receivable written off during the year 2021. Note: Enter debits before credits. Event General Journal Debit Credit Journal entry worksheet 1 2 3 Record entry to reinstate an account receivable previously written off. Note: Enter debits before credits. Event General Journal 2 Debit Credit Journal entry worksheet