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A December 31, 2017 Vermilion Imports Inc. reported this information on its balance sheet Accounts...

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A December 31, 2017 Vermilion Imports Inc. reported this information on its balance sheet Accounts receivable Less: Allowance for doubtful accounts $610.000 42000 During 2018, the company had the following summary transactions related to receivables and sales. Vermillion uses the perpetual inventory system. 1. Sales an account amounted to $2,520.000. The cost at the inventary sold was $1,990.800. 2 sales returns and allowances with a total sales price of 38,000 and a cost of $30,020 were restored to inventory 3. Callections of accounts receivable were $2,244,000. 4. Write-offs of accounts receivable deemed uncollectible, 846.900 5. Recovery of bad debts previously written off uncollectible, $15,000. Enter the January 1, 2016, balances in Accounts Receivable and Allowance for Doubtful Accounts, post the entries to the two accounts luse Taccounts, and determine the balances before any year-end adjustments (Post entries in the order of journal entries presented in the previous question) Accounts Receivable Allowance for Doubtful Accounts

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