Analysis General Journal Balance Sheet Instructions IFRS Chart of Accounts Instructions The following information is extracted from Shelton Corporation's accounting records at the beginning of 2019: Accounts Receivable $72,000 1.200 Allowance for Doubtful Accounts (credit) During 2019, sales on credit amounted to $573,000, 5554,000 was collected on outstanding receivables and $2,900 of receivables were written off as uncollectible. On December 31, 2019, Shelton estimates its bad debts to be 4% of the outstanding gross accounts receivable balance Required: 1. Prepare the journal entry necessary to record Shelton's estimate or bad deor expense for 2019 2. Prepare the Accounts Receivable section of Shelton's December 31, 2019 balance sheer 3. Compute Shelton's receivables turnover