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At January 1, 2021, Vermillion Imports Inc. reported the following on its statement of financial position: Accounts receivable $2,143,000 Allowance for doubtful accounts 144,800 During

At January 1, 2021, Vermillion Imports Inc. reported the following on its statement of financial position:

Accounts receivable $2,143,000
Allowance for doubtful accounts 144,800

During 2021, the company had the following summary transactions for receivables:

1. Sales on account, $6,588,000; Cost of goods sold, $3,615,000; return rate of 2%
2. Selling price of goods returned, $106,000; cost of goods returned to inventory, $56,200
3. Collection of accounts receivable, $6,588,000
4. Write offs of accounts receivable deemed uncollectible, $191,000
5. Collection of accounts previously written off as uncollectible, $89,100
6.

After considering all of the above transactions, total estimated uncollectible accounts, $127,300

Determine the carrying amount of the accounts receivable as at January 1. With Caculation.

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