The following information is extracted from Shelton Corporation's accounting records as of early 2016: 

Accounts Receivable $64,000 

Allowance for doubtful accounts 1,100 (credit) 

During 2016, credit sales were $568,000, 

$559,000 of outstanding accounts receivable were collected 

$2,500 of accounts receivable was written off as uncollectible. 

As of December 31, 2016, Shelton estimates that its bad debts represent 4% of the gross balance of outstanding accounts receivable.

Required

1. Prepare the journal entry needed to record Shelton's estimate of bad debt expense for 2016.

2. Prepare the Accounts Receivable section of Shelton's balance sheet as of December 31, 2016.

3. Calculate Shelton's accounts receivable turnover.