At January $1,2024,$ Espresso Imports Inc. reported the following on its statement of financial position:

Accounts receivable

$$1,863,000$

Allowance for expected credit losses

$125,600$

During $2024,$ the company had the following summary transactions for receivables:

Sales on account, $$5,724,000$; cost of goods sold, $$3,143,000$; return rate of $2\%$

Selling price of goods returned, $$90,000$; cost of goods returned to inventory, $$48,200$

Collection of accounts receivable, $$5,724,000$

Write$-$offs of accounts receivable deemed uncollectible, $$167,000$

Collection of accounts previously written off as uncollectible, $$77,100$

After considering all of the above transactions, total estimated uncollectible accounts, $$110,500(1)$ Prepare T accounts for Accounts Receivable and Allowance for Expected Credit Losses, $(2)$ enter the opening balances, $(3)$

post the above summary entries, and $(4)$ determine the ending balances. $($Post entries in the order of journal entries presented in the

previous part.$)$