Current Attempt in Progress At December 31, 2021, Kingbird, Inc. reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts 1. During 2022, the company had the following transactions related to receivables. 2. 3. 4. 5. Sales on account Sales returns and allowances $514,000 Collections of accounts receivable 38,000 Write-offs of accounts receivable deemed uncollectible Recovery of accounts previously written off as uncollectible $2,470,000 55,000 2,170,000 40,000 15,000

Current Attempt in Progress At December 31, 2021, Kingbird, Inc, reported this information on its balance sheet. During 2022, the company had the following transactions related to receivables. 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 joumal entries presented in the previous part.)