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

At December 31, 2024, Crane Imports reported this information on its balance sheet. During 2025 , the company had the following transactions related to receivables. Enter the January 1, 2025, balances in Accounts Receivable and Allowance for Doubtful Accounts, post the entries to the two accounts and determine the balances. (Post entries in the order of journal entries presented in the previous part.)