Raintree Cosmetic Company sells its products to customers on a credit basis. An adjusting entry for bad debt expense is recorded only at December 31, the company's fiscal year-end. The 2015 b disclosed the following: Current assets Receivables, net of allowance for uncollectible accounts of $34,000 $452,000 During 2016, credit sales were $1,770,000, cash collections from customers $1,850,000, and $39,000 in accounts receivable were written off. In addition, $3,400 was collected from a customer whose account was written off in 2015. An aging of accounts receivable at December 31, 2016, reveals the following Percentage of Year-End Percent Age Group Receivables in Group Uncollectible 0-60 days 60% 3% 61-90 days 10 91-120 days 20 25 Over 120 days 10 45 Required 1. Prepare summary journal entries to account for the 2016 write-offs and the collection of the receivable previously written off. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Answer is complete and correct Event General Journal Debit Credit 39,000 Allowance for uncollectible accounts Accounts receivable 39.000 2 Accounts receivable 3,400 Allowance for uncollectible accounts 3,400 Cash 3,400 Accounts receivable 3.400