At December 31, 2021, Blossom Imports reported this information on its balance sheet. $639,500 Accounts receivable Less: Allowance for doubtful accounts 40.000 During 2022, the company had the following transactions related to receivables. 1. Sales on account $2,910,000 2. Sales returns and allowances 69,300 3. Collections of accounts receivable 2,610.000 4. Write-offs of accounts receivable deemed uncollectible 40,000 5. . Recovery of bad debts previously written off as uncollectible 15,000 Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1 Accounts Receivable 2910000 Sales Revenue 2910000 2. Sales Returns and Allowances 69300 Accounts Receivable 69300 3. Cash 2610000 Accounts Receivable 2610000 4. Allowance for Doubtful Accounts 40000 Accounts Receivable 40000 5. Accounts Receivable 15000 Allowance for Doubtful Accounts 15000 (To reinstate account previously written off) Cash 15000 Accounts Receivable 15000 Enter the January 1, 2022, balances in Accounts Receivable and Allowance for Doubtful Accounts, post the entries to the two accounts and determine the balances. (Post entries in the order of journal entries posted in the previous part) Accounts Receivable Bal 639500 12) 69300 (1) 2910000 (3) 2610000 (5) v 15000 (4) 40000 (5) 15000 Bal 830200 Allowance for Doubtful Accounts (4) 40000 Bal 40000 15) 15000 Bal 15000 Prepare the journal entry to record bad debt expense for 2022, assuming that aging the accounts receivable indicates that estimated bad debts are $44,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually Account Titles and Explanation Debit Credit