View Policies Current Attempt in Progress At December 31, 2017. Golden Imports Inc. reported this information on its balance sheet $645,000 Accounts receivable Less Allowance for doubtful accounts 42,000 During 2018, the company had the following summary transactions related to receivables and sales. Golden uses the perpetuai inventory system 1. 2 Sales on account amounted to $2,463,000. The cost of the inventory sold was 51.921.140. Sales returns and allowances with a total sales price of $39,000 and a cost of $30,420 were restored to inventory Collections of accounts receivable were $2.174.000. Write-offs of accounts receivable deemed uncollectible. $47,200 3 3. 5. Recovery of bad debts previously written off as uncollectible. $14,500, ta Prepare the journal entries to record each of these five transactions. Assume that no cash discounts were taken on the collection of accounts receivable. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter o for the amounts.) No. Account Titles and Explanation Debit Credit 1. Cash (To record sales) (To record cost of the merchandise sold)