At January 1, 2022, Sweetwater Imports Inc. reported this information on its balance sheet. Accounts receivable $648,000 Less: Allowance for doubtful accounts. 45,600 During 2022, the company had the following summary transactions related to receivables and sales. Sweetwater uses the perpetual inventory system. Sweetwater expects a return rate of 3%. 1. Sales on account amounted to $2,850,000. The cost of the inventory sold was $1.995,000. 2. Goods with a total sales price of $45,600 and a cost of $31,920 were restored to inventory. 3. Collections of accounts receivable were $2.508,000. 4. Write-offs of accounts receivable deemed uncollectible. $51,300. 5. Recovery of bad debts previously written off as uncollectible, $17,100.