At December 31, 2021. Pina Colada Corp.reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $629.000 33.000 During 2022, the company had the following transactions related to receivables. 1. 2. 3. Sales on account Sales returns and allowances Collections of accounts receivable Write-offs of accounts receivable deemed uncollectible Recovery of bad debts previously written off as uncollectible $2,397,000 48,000 2,329,000 44.000 17.000 5. Compute the accounts receivable turnover and average collection period, assuming the expected bad debt information provided in (c). (Round answers to 1 decimal place, eg. 25.2.) Accounts receivable turnover times Average collection period days Debit Credit Acco No Account Titles and Explanation 1. Accounts Receivable 2,397,000 2.397.000 Qu Acco Sales Revenue 2. Sales Returns and Allowances 48,098 Que Acco Accounts Receivable 48,000 3 Cash 2.329,000 Ques Accou Accounts Receivable 2.329.000 Allowance for Doubtful Accounts 44,000 Ques Accoun Accounts Receivable 44,000 Accounts Receivable 17.000 View Quest Account Allowance for Doubtful Accounts 17.000 Question 12 of 13 C 48,000 Accounts Receivable 2.329.000 3. Cash A 2,329,000 Accounts Receivable 44.00 4. Allowance for Doubtful Accounts AC 44,000 Accounts Receivable 17,000 AC 5. Accounts Receivable 17.000 Allowance for Doubtful Accounts Q AC (To reverse account previously written off) Cash 17.000 17.000 Accounts Receivable V Q AC (To record the collection of accounts receivable.) GULVIT ALUCITE ULTIC WOTOFILOV UTTETO Accounts Receivable 48,000 629.000 (2) Bal. 17,000 (5) > 17.000 > Bal. 6.05,000 Allowance for Doubtful Accounts Bal. 33,000 (4) 44,000 (5) 17,000