At December 31, 2019, Oriole Co. reported the following information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $956,700 81,000 During 2020, the company had the following transactions related to receivables. 1. Sales on account $3,673,800 2 Sales returns and allowances 51.000 3. Collections of accounts receivable 2.801.800 4 Write-offs of accounts receivable deemed uncollectible 88.800 5. Recovery of bad debts previously written off as uncollectible 27,250 Prepare the journal entries to record each of these five transactions. Assume that no cash discounts were taken on the collections of accounts receivable. (Credit account titles are automatically indented when amount is entered. Do not indent manual No Account Titles and Explanation 1. Accounts Receivable Debit Credit 3673800 3673800 Sales Revenue Sales Returns and Allowances 2. 51000 Accounts Receivable 51000 3 Cash 2801800 Accounts Receivable 2801800 Allowance for Doubtful Accounts 88800 Accounts Receivable 88800 5 Accounts Receivable 27250 27250 Allowance for Doubtful Accounts (To reverse account previously written off.) Caali 27250 27250 Accounts Receivable (To record the collection of accounts receivable) - Enter the January 1, 2020, balances in Accounts Receivable and Allowance for Doubtful Accounts, post the entries to the two accounts (use T-accounts), and determine the balances. (Post entries in the order of journal entries presented in the previous part.) Accounts Receivable 956,700 51,000 Bal. 2 1 3,673,800 3