On December 31, 2023, Sandhill Company reported the following information in its financial statements: Accounts receivable Allowance for expected credit losses Credit losses $1,194,000 83,580 82,380 During 2024, the company had the following transactions related to receivables: 1. Sales were $10,581,000, of which $8,464,800 were on account. 2. Collections of accounts receivable were $7,280,000. 3. Writeoffs of accounts receivable were $80,000. 4. Recoveries of accounts previously written off as uncollectible were $8,800. (Note that this amount is not included in the collections referred to in item 2 above.) Prepare the journal entries to record each of the four items above. (Credit account titles are automatically indented when amoun entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all deb entries before credit entries.) No. Account Titles and Explanation (1) Cash Accounts Receivable Sales Revenue (2) Cash Accounts Receivable Debit 2,116,200 8,464,800 7,280,000 (3) Allowance for Expected Credit Losses 80,000 Accounts Receivable (4) Accounts Receivable Allowance for Expected Credit Losses (To reinstate an accounts that were previously written off) Cash Accounts Receivable (To record recovery of accounts that were previously written off) 8,800 8,800 Credit 10,581,000 7,280,000 80,000 8,800 8,800 Enter the Accounts Receivable and the Allowance for Expected Credit Losses balances on January 1, 2024. Then post the entries presented in the previous part and calculate the new balances in these accounts. (Post entries in the order of journal entries presented in the previous part.) > Accounts Receivable > Allowance for Expected Credit Losses