solve b

At December 31, 2021, Sunland Co.reported the following information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $965,700 80,200 During 2022, the company had the following transactions related to receivables. 1. $3,748,600 49,300 2. 3. Sales on account Sales returns and allowances Collections of accounts receivable Write-offs of accounts receivable deemed uncollectible Recovery of accounts previously written off as uncollectible 2.817.500 4. 90.500 5. 28,000 (a) Your answer is correct. Prepare the journal entries to record each of these five transactions. Assume that no cash discounts were taken on the collections of accounts receivable. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. Do not indent manually No Account Titles and Explanation Debit Credit 1 Accounts Receivable 3748600 Sales Revenue 3748600 2. Sales Returns and Allowances 49300 Accounts Receivable 49300 3. Cash 2817500 Accounts Receivable 2817500 4. Allowance for Doubtful Accounts 90.500 ON BOLA TANO Accounts Receivable 90500 5. Accounts Receivable 28000 Allowance for Doubtful Accounts 28000 (To reverse account previously written off.) Cash 28000 Accounts Receivable 28000 (To record the collection of accounts receivable.) (b) Enter the January 1, 2022, balances in Accounts Receivable and Allowance for Doubtful Accounts, post the entries to the two accounts (use T-accounts), and determine the balances. (Post entries in the order of journal entries presented in the previous part) Accounts Receivable Bal. 2 1 > 3 > 5 > 4