List of accounts:

• Accounts Payable
• Accounts Receivable
• Accumulated Depreciation - Buildings
• Accumulated Depreciation - Equipment
• Advances to Employees
• Allowance for Doubtful Accounts
• Allowance for Doubtful Notes
• Bad Debts Expense
• Bank Charges Expense
• Bank Loan Payable
• Buildings
• Cash
• Common Shares
• Cost of Goods Sold
• Current Portion of Bank Loan Payable
• Depreciation Expense
• Equipment
• Held for Trading Investments
• Income Tax Expense
• Income Tax Payable
• Income Tax Receivable
• Insurance Expense
• Interest Expense
• Interest Payable
• Interest Receivable
• Interest Revenue
• Inventory
• Land
• No Entry
• Notes Payable
• Notes Receivable
• Prepaid Insurance
• Prepaid Rent
• Retained Earnings
• Salaries Expense
• Salaries Payable
• Sales
• Sales Discounts
• Sales Returns and Allowances
• Sales Tax Recoverable
• Supplies
• Unearned Revenue

At December 31, 2017, Cato Imports Inc. reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $647,000 41,000 During 2018, the company had the following summary transactions related to receivables and sales. Cato uses the perpetual inventory system. 1. 2. 3. Sales on account amounted to $2,369,000. The cost of the inventory sold was $2,155,790. Sales returns and allowances with a total sales price of $38,000 and a cost of $34,580 were restored to inventory. Collections of accounts receivable were $2,079,000. Write-offs of accounts receivable deemed uncollectible, $46,200. Recovery of bad debts previously written off as uncollectible, $13,600. 4. 5. Prepare the journal entries to record each of these five transactions. Assume that no cash discounts were taken on the collections of accounts receivable. (Credit account titles are automatically indented when amount is entered. Do not indent manu If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No. Account Titles and Explanation Debit Credit 1. Accounts Receivable 2369000 Sales 2369000 (To record sales) Cost of Goods Sold 2155790 2155790 (To record cost of the merchandise sold) 2. (To record sales returns and allowances) (To record cost of sales on sales returns) (To record cost of sales on sales returns) 3. 4 . 5. (To reverse write-off of account receivable) (To record recovery of uncollectible amount)