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Problem 8-2A (Part Level Submission) At December 31, 2016, Sweet Acacia Industries Imports reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $606,700 36,950 During 2017, the company had the following transactions related to receivables. 1. Sales on account 2. Sales returns and allowances 3. Collections of accounts receivable 4. Write-offs of accounts receivable deemed uncollectible 5 Recovery of bad debts previously written off as uncollectible $2,899,000 76,516 2,549,800 40,820 16,350