Problem 8-2A (Part Level Submission) At December 31, 2016, Teal Mountain Inc. Imports reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $566,100 35,860 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 5. Recovery of bad debts previously written off as uncollectible $2,973,000 36,176 2,542,300 40,190 14,390 Prepare the journal entries to record each of these five transactions. Assume that no cash discounts we goods sold entries.) (Credit account titles are automatically indented when amount is entered No. Account Titles and Explanation 1. Accounts Receivable Debit Credit 2973000 2973000 Sales Revenue 2. Sales Returns and Allowances Accounts Receivable 36176 3. cash 2542300 Accounts Receivable 2542300 4. Allowance for Doubtful Accounts 40190 Accounts Receivable 40190 5. Accounts Receivable 14,390 Allowance for Doubtful Accounts 14,390 (To reinstate account previously written off) rach 14390 Cash Accounts Receivable 14390 SHOW LIST OF ACCOUNTS SHOW ANSWER (Post entries in the part)