At December 31, 2021, Swifty Corporation reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $587,000 36,000 During 2022 , the company had the following transactions related to receivables. 1. Sales on account 2. Sales returns and allowances 3. Collections of accounts receivable 4. Write-offs of accounts receivable deemed uncollectible 5. Recovery of accounts previously written off as uncollectible $2,650,00055,0002,350,00040,50015,300 (a) 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. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No Account Titles and Explanation Debit Credit 1. 2. 3. 4. 5. (To reverse account previously written off.) (To record the collection of accounts receivable.) (b) 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.) (d) Compute the accounts receivable turnover and average collection period, assuming the expected uncollectibles information provided in (c). (Round answers to 1 decimal place, e.g. 25.2. Use 365 days for calculation.) Accounts receivable turnover Average collection period times days eTextbook and Media List of Accounts Attempts: 0 of 3 used (c) Prepare the journal entry to record bad debt expense for 2022, assuming that aging the accounts receivable indicates that estimated uncollectibles are $45,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit eTextbook and Media List of Accounts Attempts: 0 of 3 used