At December 31, 2021, Wildhorse Co. reported the following information on its balance sheet. Accounts receivable $962,000 Less: Allowance for doubtful accounts 78,300 During 2022, the company had the following transactions related to receivables. 1. Sales on account $3,656,700 2. Sales returns and allowances 49,000 3. Collections of accounts receivable 2,816,700 4. Write-offs of accounts receivable deemed uncollectible 89,300 5. Recovery of accounts previously written off as uncollectible 28,000