At December 31, 2019, Splish Co. reported the following information on its balance sheet. Accounts receivable $953,700 Less: Allowance for doubtful accounts 80,900 During 2020, the company had the following transactions related to receivables. 1. Sales on account $3,663,400 2. Sales returns and allowances 48,300 3. Collections of accounts receivable 2,800,700 4. Write-offs of accounts receivable deemed uncollectible 88,200 5. Recovery of bad debts previously written off as uncollectible 27,750 (a) Your answer is correct. Prepare the journal entries to record each of these five transactions. Assume that no cash discounts were taken on the collections of account No Account Titles and Explanation Debit Credit 1. Accounts Receivable Sales Revenue 3663400 2. Sales Returns and Allowances 48300 Accounts Receivable 3. Cash Accounts Receivable 2800700 4. Allowance for Doubtful Accounts 88200 Accounts Receivable 5. Accounts Receivable Allowance for Doubtful Accounts 27750 3663400 48300 2800700 88200 27750