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At December 31, 2021, Larkspur, Inc. reported this information on its balance sheet. Accounts receivable...

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At December 31, 2021, Larkspur, Inc. reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $642,000 37,000 During 2022, the company had the following transactions related to receivables. 1. Sales on account 2. Sales returns and allowances 3. $2,346,000 49,000 2,348,000 40,000 16,000 Collections of accounts receivable Write-offs of accounts receivable deemed uncollectible Recovery of bad debts previously written off as uncollectible 4. 5. (a) 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. 2. 3. 4. 5. (To reverse account previously written off.)

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