The following information is extracted from Shelton Corporation's accounting records at the beginning of $2019$:

Accounts Receivable

$$67,000$

Allowance for Doubtful Accounts

$1,300$

$($credit$)$

During $2019,$ sales on credit amounted to $$582,000,$ $$552,800$ was collected on outstanding receivables and $$2,600$ of receivables were written off as uncollectible. On December $31,2019,$ Shelton estimates its bad debts to be $4\%$ of the outstanding gross accounts receivable balance.

Required:

Prepare the journal entry necessary to record Shelton's estimate of bad debt expense for $2019.$

Prepare the Accounts Receivable section of Shelton's December $31,2019,$ balance sheet.

Compute Shelton's receivables turnover.

If Sheldon uses IFRS, what might be the heading for the accounts receivable section in Requirement $2?$