Recording receivables transactions

On January 1, 2017, Brown Company showed the following account balances:

Account	Debit	Credit
Accounts receivable	$634,000
Allowance for doubtful accounts		$28,000

During the next fiscal year, the following events occurred:

1. Repair revenues for the year were $5,850,000. 75% were on account, 25% were cash sales.
2. Collections for the year were $4,705,000.
3. $35,000 was added to the total accounts receivable due to interest on overdue accounts.
4. Write offs of uncollectible accounts totaled $27,000.
5. One of the accounts written off in part d.) was collected: $2,250.
6. On December 31, 2017 (the companys fiscal-year end), using the aging-of-receivables method, the allowance for doubtful accounts was estimated to be $33,000.

Required:

1. Record journal entries based on the summary events above.
2. Show how net receivables will be presented on the December 31, 2017 balance sheet.