At December 31, 2024, Crane Imports reported this information on its balance sheet. Accounts receivable $602,000 Less: Allowance for doubtful accounts 41,000 During 2025, the company had the following transactions related to receivables. 1. Sales on account $2,560,000 2. Sales returns and allowances 52,000 3. Collections of accounts receivable 2,260,000 4. Write-offs of accounts receivable deemed uncollectible 43,000 5. Recovery of bad debts previously written off as uncollectible 20,000