At January 1, 2018, Golden Imports Inc. reported the following on its statement of financial position:

Accounts receivable

$1,766,000

Allowance for doubtful accounts

123,000

During 2018, the company had the following summary transactions for receivables:

1.Sales on account, $5,382,000; Cost of goods sold, $2,968,0002.Sales returns and allowances, $86,000; Cost of goods returned to inventory, $49,0003.Collections of accounts receivable, $5,382,000

4.Interest added to overdue accounts, $401,000

5.Write offs of accounts receivable deemed uncollectible, $150,000

6.Collection of accounts previously written off as uncollectible, $66,000

7.After considering all of the above transactions, total estimated uncollectible accounts, $95,000

1) Prepare T accounts for Accounts Receivable and Allowance for Doubtful Accounts, (2) enter the opening balances, (3) post the above summary entries, and (4) determine the ending balances.