At December 31, 2016, Bridgeport Imports reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $656,700 39,470 During 2017, the company had the following transactions related to receivables. 1. 2. 3. 4. Sales on account Sales returns and allowances Collections of accounts receivable Write-offs of accounts receivable deemed uncollectible $2,993,700 57,000 2,556,700 42,560 (a) Your answer is partially correct. Try again. Prepare a tabular summary that includes the following accounts: Cash, Accounts Receivable, Allowance for Doubtful Accounts, Revenue, and Expense. Enter the January 1, 2017, balances in Accounts Receivable and either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Assets Cash + Accts. Rec. = Liabilities + Stockholders' Equity Allow. For Retained Earnings - Doubtful Accts. = + Common Stock + Rev. - Exp. (39470) 9691701 Beg. Bal. 656700 Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT (b) Your answer is partially correct. Try again. Record transactions 1 through 4. (Omit recording cost of goods sold.) (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Assets Liabilities + Stockholders' Equity Retained Earnings . Exp. Cash = Allow. For - Doubtful Accts. - (39470) + Common Stock + + T Rev. Accts. Rec. 656700 Beg. Bal. 696170 T 2993700 Sales revenue T (57000 | Sales returns & allowances 2993700 (57000) (2556700) (42560) 2556700T 42560 (c) Record bad debt expense for 2017, assuming that aging the accounts receivable indicates that estimated bad debts are $84,120. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Assets = Liabilities + Allow. For + Accts. Rec. - Doubtful Accts. = + Common Stock + Stockholders' Equity Retained Earnings - Exp. Cash Rev. Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT