At December 31, 2021. Sandhill Imports reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $518,000 38,500 During 2022, the company had the following transactions related to receivables. 1. $2,350,000 2. 55,000 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 2,050,000 4 45,000 S. 14,000 No. Account Titles and Explanation Debit Credit 1. Accounts Receivable 2350000 Sales Revenue 2350000 2. 2 Sales Returns and Allowances 55000 Accounts Receivable 55000 3 Cash 2050000 2050000 Accounts Receivable 4. Allowance for Doubtful Accounts 45000 45000 Bad Debt Expense 4. 45000 Allowance for Doubtful Accounts 45000 Bad Debt Expense 14000 5, Accounts Receivable 14000 Allowance for Doubtful Accounts (To reinstate account previously written off) II (To record collection of accounts recevable)