At December 31, 2016, Sarasota Imports reported this information on its balance sheet.-->

At December 31, 2016, Sarasota Imports reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts 581,900 36,370 During 2017, the company had the following transactions related to receivables. 1. Sales on account 2. Sales returns and allowances 3 Collections of accounts receivable 4. Write-offs of accounts recelvable deemed uncollectible $2,965,700 53,400 2,568,800 42,560 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 Allowance for Doubtful Accounts. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Assets Liabilities+ Stockholders' Equity Allow. For Retained Earnings Cash + Accts. Rec.Doubtful Accts. Common Stock+ Rev Exp. Beg. Bal. 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 Allow. For Retained Earnings Exp. Cash + Accts. Rec. Doubtful Accts. - +Common Stock+ Rev Beg. Bal. Record bad debt expense for 2017, assuming that aging the accounts recelvable Indicates that estlmated bad debts are s80,420. (Enter negative amounts using elther a negative slgn preceding the number e.g.-45 or parentheses e.g. (45).) Assets Llabilities+ Stockholders' Equity Retained Earnings Exp. Allow. For Cash Accts. Rec. - Doubtful Accts. - +Common Stock Rev LINK TO TEXT Indicate how accounts receivable and the allowance for doubtful accounts will be reported on the December 31, 2017, balance sheet SARASOTA IMPORTS Balance Sheet Assets