At December 31, 2017, Elkhardt Imports Inc. reported this information on its balance sheet. Accounts receivable $644,000 Less: Allowance for doubtful accounts 40,000 Durine 2018, the company had the following summary transactions related to receivables and sales. Elkhardt uses the perpetual inventory system 1. Sales on account amounted to $2.715,000. The cost of the inventory sold was $2.443,500. 2. Sales returns and allowances with a total sales price of $41.000 and a cost of $36.900 were restored to inventory. 3. Collections or wounts receivable were $2,393,000 4. Write-offs of accounts receivable deemed uncollectible. $44.900. 5. Recovery of bad debts previously written off as uncollectible. $15,100, Enter the January 1, 2018, balances in Accounts Receivable and Allowance for Doubtful Accounts, post the entries to the two accounts (use T accounts), and determine the balances before any year-end adjustments. (Post entries in the order of journal entries presented in the previous question.) Accounts Receivable > > > Allowance for Doubtful Accounts v >