Current Attempt in Progress At January 1,2025, Springfield Imports Inc. reported this information on its balance sheet. During 2025, the company had the following summary transactions related to receivables and sales. Springfield uses the perpetual inventory system. Springfield expects a return rate of 3%. 1. Sales on account amounted to $3,050,000. The cost of the inventory sold was $2,287,500. 2. Goods with a total sales price of $48,800 and a cost of $36,600 were restored to inventory. 3. Collections of accounts receivable were $2,684,000. 4. Write-offs of accounts receivable deemed uncollectible, $54,900. 5. Recovery of credit losses previously written off as uncollectible, $18,300. (a) Prepare the journal entries to record each of these five transactions. (List all debit entries before credit entries. Credit account titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the omounts.)