At December 31, 2019, Splish Co. reported the following information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $953,700 80,900 During 2020, 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 receivable deemed uncollectible 5. Recovery of bad debts previously written off as uncollectible 27,750 $3,663,400 48,300 2,800,700 88,200