During its first year of operations, Winter Retreat Inc. had sales of $825,000, all on account. Industry experience suggests that Winter Retreat's bad debt expense will be $32,700. Winter Retreat ended the year 2016 with accounts receivable of $90,000 and an allowance for uncollectible accounts of $17,500. During 2017, Winter Retreat completed the following transactions: 1. Credit sales, $1,090,000 2. Collections on account, $890,000 3. Write-offs of uncollectibles, $13,000 4. Bad debt expense, $32,700 Journalize the 2017 transactions for Winter Retreat. Explanations are not required. We will begin by recording sales revenue. (Record debits first, then credits. Explanations are not required.) Journal Entry Accounts Debit Credit 1 Now we will record collections. Journal Entry Accounts Debit Credit 2 Next, we will record receivables actually written off during the vear. During its first year of operations, Winter Retreat Inc. had sales of $825,000, all on account. Industry experience suggests that Winter Retreat's bad debt expense will be $32,700. Winter Retreat ended the year 2016 with accounts receivable of $90,000 and an allowance for uncollectible accounts of $17,500. During 2017, Winter Retreat completed the following transactions: 1. Credit sales, $1,090,000 2. Collections on account, $890,000 3. Write-offs of uncollectibles, $13,000 4. Bad debt expense, $32,700 Journalize the 2017 transactions for Winter Retreat. Explanations are not required. Next, we will record receivables actually written off during the year. Journal Entry Accounts Debit Credit 3 Last, we will estimate the uncollectible amount for 2017 sales revenue on account. Journal Entry Accounts Debit Credit 4