The June 30, 20X1, balance sheet of Clarus Consultants. Inc.. reports the following: Accounts Receivable... Allowance for Uncollectible Accounts (credit balance). $143,000 3.200 At the end of each quarter, Clarus estimates uncollectible-account expense to be 1 1/2% of credit sales. At the end of the year, the company ages its accounts receivable and adjusts the balance in Allowance for Uncollectible Accounts to correspond to the aging schedule. During the second half of 20X1. Clarus completed the following selected transactions: Aug. 9 Sep. 30 Oct. 18 Dec. 31 Made a compound entry to write off the following uncollectible accounts: Aguilar, Inc. $235: Seaton Co., $188; and T. Taylor. $706. Recorded uncollectible-account expense equal to 14% of credit sales of $140.000. Wrote off as uncollectible the $767 account receivable from Lintz Co. and the $430 account receivable from Navisor Corp. Recorded uncollectible-account expense based on the aging of accounts receivable. Age of Accounts Total Balance 1-30 31-60 61-90 Over 90 Days Days Days Days $136,500 $81,700 $31,100 $14,000 $9,700 Estimated percent uncollectible 0.1% 0.4% 5.0% 30.0% Required 1. Record the transactions in the journal. Round all amounts to the nearest dollar. 2. Open the Allowance for Uncollectible Accounts, and post entries affecting that account. Keep a running balance. 3. Most companies report two-year comparative financial statements. If Clarus's Accounts Receivable balance was $118,000 and the Allowance for Uncollectible Accounts stood at $2,700 at December 31, 20X0 show how the company will report its accounts receivable on a comparative balance sheet for 20X1 and 20X0.