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Prepare the journal entries to record each of these five transactions. Assume that no cash discounts were taken on the collections of accounts receivable. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No Account Titles and Explanation Debit Credit 1. Accounts Receivable 3,713,900 Sales Revenue 3,713,900 2 2. Sales Returns and Allowances 50,800 Accounts Receivable 50,800 3. Cash 2,804,000 D Accounts Receivable T T 2,804,000 4. Allowance for Doubtful Accounts T 90,600 T Accounts Receivable 90,600 5. Accounts Receivable 28,100 PU Allowance for Doubtful Accounts 28,100 (To reverse account previously written off.) Cash 28,100 Accounts Receivable 28,100 (To record the collection of accounts receivable.) Enter the January 1, 2020, 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 journal entries presented in the previous part.) Accounts Receivable IT 968,400 | 50,800 3,7: 3,900 2,804,000 28,100 | 4 ||S || VIL 90,600 28,100 - 1,736,900 Allowance for Doubtful Accounts ),600 - 78,400 28, 100 al. VIT 15,900 Your answer is partially correct. Try again. Prepare the journal entry to record bad debt expense for 2020, assuming that an aging of accounts receivable indicates that expected bad debts are $115,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Bad Debt Expense 115000 115000 LINK TO TEXT LINK TO TEXT LINK TO TEXT X Your answer is incorrect. Try again. Compute the accounts receivable turnover for 2020 assuming the expected bad debt information provided in (c). (Round answer to 2 decimal places, e.g. 25.25.) Accounts receivable turnover ratio times