At December 31, 2016, Carla Vista Co. Imports reported this information on its balance sheet.

Accounts receivable		$581,900
Less: Allowance for doubtful accounts		36,370

During 2017, the company had the following transactions related to receivables.

1.		Sales on account		$2,965,700
2.		Sales returns and allowances		67,586
3.		Collections of accounts receivable		2,568,800
4.		Write-offs of accounts receivable deemed uncollectible		42,560
5.		Recovery of bad debts previously written off as uncollectible		14,110

Your answer is partially correct. Try again. Enter the January 1, 2017, balances in Accounts Receivable and Allowance for Doubtful Accounts, post the entries to the two accounts and determine the balances. (Post entries in the order of journal entries posted in the previous part) Accounts Receivable Bal. 581900 (2) 67586 KO (1) 2965700 (3) 2568800 14110 (4) 42560 > 14110 x Bal. v Allowance for Doubtful Accounts 42560 Bal. v 36,370 14110 Bal. V Your answer is partially correct. Try again. Prepare the journal entry to record bad debt expense for 2017, assuming that aging the accounts receivable indicates that estimated bad debts are $66,224. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Bad Debt Expense Allowance for Doubtful Accounts SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR PROBLEM * Your answer is incorrect. Try again. Compute the accounts receivable turnover. (Round answer to 1 decimal place, e.g. 12.4.) x Accounts receivable turnover times X Your answer is incorrect. Try again. Compute the average collection period. (Round answer to 1 decimal place, e.g. 12.4.) X Average collection period days