Problem 6-6 At December 31, 2016, Riverbed Imports reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $554,000 40,020 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 $2,859,100 57,500 2,521,000 43,660 Prepare a tabular summary that includes the following accounts: Cash, Accounts Receivable, Allowance for Doubtful Accounts, Revenue, and Expense. Enter the January 1, 2017, balances in Accounts Receivable and Allowance for Doubtful Accounts. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Assets - Liabilities+ Stockholders' Equity Allow. For Retained Earnings Cash +Accts. Rec.Doubtful Accts. +Common Stock + Rev. Exp Beg. Bal LINK TO TEXT Record transactions 1 through 4. (Omit recording cost of goods sold.) (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g.(45).) Assets - Liabilities + Stockholders' Equity Allow. For Retained Earnings Rec. .Doubtfu Common Rev. Cash Exp. Stock Beg. Bal. $ 1 3 LINK TO TEXT Record bad debt expense for 2017, assuming that aging the accounts receivable indicates that estimated bad debts are $81,350. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45) Assets - Liabilities+ Stockholders' Equity Allow. For Retained Earnings Exp. Cash +Accts. Rec.Doubtful Accts. + Common Stock+ Rev LINK TO TEXT Indicate how accounts receivable and the allowance for doubtful accounts will be reported on the December 31, 2017, balance sheet. RIVERBED IMPORTS Balance Sheet Assets Click if you would like to Show Work for this question: Open Show Work