At December 31, 2021, Flounder Imports reported this information on its balance sheet.

Accounts receivable		$598,100
Less: Allowance for doubtful accounts		40,410

During 2022, the company had the following transactions related to receivables.

1.		Sales on account		$2,964,200
2.		Sales returns and allowances		57,700
3.		Collections of accounts receivable		2,607,100
4.		Write-offs of accounts receivable deemed uncollectible		42,290

(a)

Prepare a tabular summary that includes the following accounts: Cash, Accounts Receivable, Allowance for Doubtful Accounts, Revenue, and Expense. Enter the January 1, 2022, balances in Accounts Receivable and Allowance for Doubtful Accounts. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

				Assets					=	Liabilities	+	Stockholders' Equity
								Allow. For						Retained Earnings
				Cash	+	Accts. Rec.	-	Doubtful Accts.	=		+	Common Stock	+	Rev.	-	Exp.
		Beg. Bal.		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount