Answer the Principle of Financial Accounting Chapter 5 question

Problem E-BDA Recording Revenue, Receivables, and Bad Debt Expense On January 1, 2019, Import Properties Inc. reported the following balances on its statement of nancial position: Accounts receivable $2,105,000 Allowance for doubtful accounts 195,000 During 2019, the company:r conducted the following transactions: a. Sold goods on account For $5,000,000 b. Processed sales returns of $50,000 c. Processed sales allowances of $40,000 cl. Collected $6,950,000 of accounts receivable e. Added interest to overdue accounts receivable of $150,000 f. Wrote c' accounts receivable considered uncollectible of $215000 9. Recovered accounts receivable previouslyr written off of $45,000 2. Reoord the journal entry for bad debt expense at December 31, assumlng that the allowance for doubtful accounts at December 31 should be $225,000. Dec. 31 Bad Debt mm D Allowance for Doubtful mm: E {Record bad debts expense) 3. Post all of the above entries to T-accounts for accounts receivable, allowance for doubtful accounts, and other accounts you deem are required. Accounts Receivable Write-offs Beg. Balance 2,105,000 Returns Sales 6,000,000 Allowances Interest 150,000 Collections Recoveries \:| Collections E Balance \:| ' Allowance for Doubtful Accounts Write-offs Beg. Balance Recoveries E Bad Debts E Balance E Cash Collections 6,950,000 aaaaaaa-aa :l aaaaaa :l