At December 31, 2021, Splish Co. reported the following information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts 1. During 2022, the company had the following transactions related to receivables. 2. 3. 4. 5. Sales on account $959,700 Sales returns and allowances 80,600 Collections of accounts receivable Write-offs of accounts receivable deemed uncollectible Recovery of accounts previously written off as uncollectible $3,741,500 50,500 2,801,900 89,000 28,000 4 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

At December 31, 2021, Splish Co, reported the following information on its balance sheet. During 2022, the company had the following transactions related to reccivables. 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. 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) 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.) 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 occount titles are outomaticolly indented when amount is entered. Do not indent manually] Compute the accounts receivable turnover and average collection period for 2022 (Round accounts receivable turnover to 2 decimal places, es 25.25 and average collection period to 1 decimal place, es. 25.2) Accounts receivable turnover ratio times Average collection period days