The following information is extracted from Shelton Corporation's accounting record the beginning of 2013: Accounts Receivable $65,000 Allowances for Doubtful Accounts 1,000 (credit) During 2013, sales an credit amounted to $596,000, $559,000 was collected an outstanding receivables and $2, 400 of receivables were written off as uncollectible. On December 3 2013, Shelton estimates its bad debts to be 3% of the outstanding gross accounts receivable balance. Required: Prepare the journal entry necessary to record Shelton's estimate of bad debt expense for 2013. Prepare the Accounts Receivable section of Shelton's December 31, 2013 balance sheet. Compute Shelton's receivables turnover. If required, round you answer to one decimal place. If Shelton Company uses IFRS might be the heading for the accounts receivable section in Requirement 2? The input in the box below will not be graded, but may be viewed and considered by your instructor