At December 31, 2021, Sheridan Co.reported the following information on its balance sheet $961,200 Accounts receivable Less: Allowance for doubtful accounts 82.000 During 2022, the company had the following transactions related to receivables. 1. $3,690,200 Sales on account 48,800 2 Sales returns and allowances 2,802.500 3. 91,200 4. Collections of accounts receivable Write-offs of accounts receivable deemed uncollectible Recovery of accounts previously written off as uncollectible 28,000 5. Prepare the journal entries to record each of these five transactions. Assume that no cash discounts were taken on the collections of accounts receivable. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit No Account Titles and Explanation 1. 2. 3 4. 5. 5. (To reverse account previously written off.) (To record the collection of accounts receivable.) eTextbook and Media List of Accounts Enter the January 1, 2022 balances in Accounts Receivable and Allowance for Doubtful Accounts, post the entries to the two accounts (use T-accounts), and determine the balances. (Post entries in the order of journal entries presented in the previous part.) Enter the January 1, 2022, balances in Accounts Receivable and Allowance for Doubtful Accounts, post the entries to the two accounts (use T-accounts), and determine the balances. (Post entries in the order of journal entries presented in the previous part.) Accounts Receivable 2 : 4 Allowance for Doubtful Accounts . Prepare the journal entry to record bad debt expense for 2022, assuming that an aging of accounts receivable indicates that expected uncollectibles are $115,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit e Textbook and Media List of Accounts Compute the accounts receivable turnover and average collection period for 2022. (Round accounts receivable turnover to 2 decimal places, e.g. 25.25 and average collection period to 1 decimal place, e.3. 25.2.) times Accounts receivable turnover ratio Compute the accounts receivable turnover and average collection period for 2022. (Round accounts receivable turnover to 2 decimal places, e.3. 25.25 and average collection period to 1 decimal place, e.g. 25.2.) Accounts receivable turnover ratio times Average collection period days