Question 7 of 8 - 15 View Policies Current Attempt in Progress At December 31, 2019, Sheffield Medical reported the following information on its statement of financial position, Accounts receivable R$961,800 Less: Allowance for doubtful accounts 81,300 During 2020, the company had the following transactions related to receivables. 1. Sales on account R$3.681.600 2. Sales returns and allowances 51.100 Collections of accounts receivable 2.809/200 4 Write-offs of accounts receivable deemed uncollectible 89.900 5. Recovery of bad debts previously written off as uncollectible 28.500 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 autornatically indented when amount is entered. Do not Indent manually) No Account Titles and Explanation Debit Credit 1 2 3 Question 7 of 8 - / 15 4 5. (To reverse account previously written off.) (To record the collection of accounts receivable.) Enter the January 1, 2020, balances in Accounts Receivable and Allowance for Doubtful Accounts, post the entries to the two accounts (use T-accounts), and determine the balandes. (Post entries in the order of journal entries presented in the previous part.) Accounts Receivable 1 2 3 4 5 Ball V Allowance for Doubtful Accounts Question 7 of 8 - / 15 Allowance for Doubtful Accounts Prepare the journal entry to record bad debt expense for 2020, assuming that an aging of accounts receivable indicates that expected bad debts are R$113,500. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation w Debit Credit Compute the accounts receivable turnover for 2020 assuming the expected bad debt information provided in I. (Round answer to 2 decimal places, e.g. 25.25.) Accounts receivable turnover ratio times