At December 31, 2019, Whispering Winds Corp. reported the following information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $979,000 86,000 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 $3,768,580 55,000 2,855,000 99,000 29,000 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 manually) No Account Titles and Explanation Debit Credit Accounts Receivable 2.7650 Sales Revenue 376580 2. Sales Returns and Allowances Accounts Receivable 3. Cash Accounts Receivable 4. Allowance for Doubtful Accounts 99.000 Accounts Receivable Accounts Receivable 29.000 Allowance for Doubtful Accounts (To reverse account previously written ofl.) Cash I Accounts Receivable 29.000 (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 Bal 55000 2.855.000 29.000 99.000 20000 Allowance for Doubtful Accounts 99.000 B9000 20.000 Prepare the journal entry to record bad debt expense for 2020, assuming that an aging of accounts receivable indicates that expected bad debts are $147.580. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit Bad Debt Expense Allowance for Doubt Accounts e Textbook and Media List of Accounts Your answer is correct Compute the accounts receivable turnover for 2020, assuming the expected bad debt information provided in (c)(Round answer to 2 decimal places, eg: 25.25.) Accounts receivable turnover ratio 2.99 times