Problem 8-1A At December 31, 2018, Tamarisk, Inc. reported the following information on its balance sheet. Accounts receivable $967,000 Less: Allowance for doubtful accounts 75,000 During 2019, the company had the following transactions related to receivables. 1. Sales on account $3,951,880 2. Sales returns and allowances 55,000 2,820,000 3. Collections of accounts recejvable 95,000 4. Write-offs of accounts receivable deemed uncollectible 28,000 5. Recovery of bad debts previously written off as uncollectible 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 manually.) Credit Debit No Account Titles and Explanation 1. 2. No Account Titles and Explanation Debit Credit 1. 2. 3. 4. 5. (To reverse account previously written off.) (To record the collection of accounts receivable.) Enter the January 1, 2019, balances in Accounts Receivable and Allowance for Doubtful Accounts, post the entries to the two accounts (use T-accounts), determine the balances. (Post entries in the order of journal entries presented in the previous part.) Accounts Receivable Allowance for Doubtful Accounts accumina that an aging of accounts receivable indicates that expected bad debts are Prepare the journal entry to record bad debt expense for 2019, assuming that an aging of accounts receivable indicates that expected bad debts are $342,880. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation I Debit Credit Compute the accounts receivable turnover for 2019, assuming the expected bad debt information provided in (c). (Round answer to 2 decimal places, e.g. 25.25.) Accounts receivable turnover ratio times Open Show Work Click if you would like to Show Work for this