Current Attempt in Progress

At the beginning of the current period, Covington Corporation had balances in Accounts Receivable of $$164,000$ and in Allowance for Expected Credit Losses of $$7,400($credit$).$ During the period, Covington had credit sales of $$656,000$ and collections on account of $$625,700.$ Covington expects a return rate of $5\%.$ Covington uses a perpetual inventory system and determined that the cost of goods sold during the period was $$549,400.$ Covington wrote off as uncollectible, accounts receivable of $$5,800.$ However, a $$2,500$ account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $$20,500$ at the end of the period.

$($a$)$

Prepare the entries to record sales, cost of goods sold, and collections during the period. $($List all debit entries before credit entries.