Question 8 At December 31, 2016, Sheffield SA reported the following information on its statement of financial position. Accounts receivable Less: Allowance for doubtful accounts R$984,360 73,810 During 2017, the company had the following transactions related to receivables. 1. 2. 3. R$3,311,900 52,090 2,835,450 Sales on account Sales returns and allowances Collections of accounts receivable Write-offs of accounts receivable deemed uncollectible Recovery of bad debts previously written off as uncollectible 4. 94,600 5. 27,500 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 automatically indented when amount is entered. Do not indent manually.) Debit Credit No Account Titles and Explanation 1. 2. 3. 4. 5. (To record recovery of bad debts). (To record amount received)