At December 31, 2021, Metlock, Inc. reported this information on its balance sheet. Accounts receivable $531,000 Less: Allowance for doubtful accounts 27,000 During 2022, the company had the following transactions related to receivables. 1. Sales on account $2,390,000 2. Sales returns and allowances 50,000 3. Collections of accounts receivable 2,090,000 4. Write-offs of accounts receivable deemed uncollectible 40,000 5. Recovery of accounts previously written off as uncollectible 20,000