Question 1 of 3 > -3 View Policies Current Attempt in Progress At the beginning of the current period, Speedway Corporation had balances in Accounts Receivable of $164,000 and in Allowance for Doubtful Accounts of $7,400 (credit). During the period, Speedway had credit sales of $656,000 and collections on account of $625,700. Speedway expects a return rate of 5%. Speedway uses a perpetual inventory system and determined that the cost of goods sold during the period was $549,400. Speedway wrote off as uncollectible, accounts receivable of $5,800. However, a $2,500 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $20,500 at the end of the period. Prepare the entries to record sales, cost of goods sold, and collections during the period. (List all deblt entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not Indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit (To record sales) (To record cost of goods sold) (To record collections) eTextbook and Media List of Accounts Prepare the entries to record the recovery of the uncollectible account during the period. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not Indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit (To reverse write-off of account receivable) (To record recovery of uncollectible amount) e Textbook and Media List of Accounts Prepare the entry to record bad debts expense for the period. (List oll debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit e Textbook and Media List of Accounts Using Taccounts, determine the ending balances in Accounts Receivable and Allowance for Doubtful Accounts. Post antries in the order of Journal entriles presented in the previous question.) Accounts Receivable Allowance for Doubtful Accounts e Textbook and Media List of Accounts What is the carrying amount of the receivables at the end of the period? $ Carrying amount of Receivables e Textbook and Media List of Accounts