On 1 January 2019, Winston Limited reported the following information on its Balance Sheet Accounts receivable Less: Allowance for doubtful accounts $110,000 2.800 During 2019, the business journalised the following transactions related to receivables Sales on account (terms 2/10 net 30) . Sales returns and allowances . Sales discounts . Cash received from credit customers . Write-offs of accounts receivable deemed uncollectible $1,000,000 20,000 15,000 1,050,000 3,000 Required: (a) Prepare the required adjusting journal entry on 31 December 2019, assuming that evidence suggested estimated uncollectible receivables on that date were $650 (b) If the company chooses to fully disclose on the face of the Balance Sheet (instead of using footnotes), show how accounts receivable should be presented on the 31 December 2019 balance sheet (c) Calculate the average collection period for accounts receivable, i.e., days in accounts receivable, for 2019. Comment on your result