Problem 8-1A (Part Level Submission) At December 31, 2014, House Co. reported the following information on its balance sheet. Accounts receivable $954,950 Less: Allowance for doubtful accounts 79,140 During 2015, the company had the following transactions related to receivables. 1. Sales on account $3,738,530 2. Sales returns and allowances 48,160 3. Collections of accounts receivable 2,803,350 4. Write-offs of accounts receivable deemed uncollectible 90,710 5. Recovery of bad debts previously written off as 27,720 uncollectible (a) Your answer is partially correct. Try again. Prepare the journal entries to record each of these five transactions. Assume that no cash discounts were taken on the collect No Account Titles and Explanation Debit Credit 1. Accounts Receivable 3738530 Sales Revenue 3738530 2. Sales Returns and Allowan 481601 Accounts Receivable 48160 3. Cash 2803350 Accounts Receivable 2803350 4. Allowance for Doubtful Acc Allowance for Doubtful Acc 5. cash 27720 27720 Bad Debts Expense (To reverse account previously written off.) X (To record the collection of accounts receivable.)