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At December 31, 2018, Sheffield Corp. reported the following information on its balance sheet counts...

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Accounting

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At December 31, 2018, Sheffield Corp. reported the following information on its balance sheet counts receivable $ 938,000 73,000 Less: Allowance for doubtful accounts During 2019, the company had the following transactions related to receivables. 1. 2. 3. 4. 5. Sales on account Sales returns and allowances Collections of accounts receivable Write-offs of accounts receivable deemed uncollectible Recovery of bad debts previously written off as uncollectible $3,889.250 55,000 2,763,000 91,000 28,000 Your answer is correct. 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 3889250 Sales Revenue 3889250 2. Sales Returns and Allow 55000

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