The June 30, 20X4. balance sheet of Delforce Associates, Inc., reports the following: Accounts Receivable Allowance for Uncollectible Accounts (credit balance). $265,000 7,100 At the end of each quarter, Delforce estimates uncollectible-account expense to be 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 20X4. Delforce completed the following transactions: July 14 Made a compound entry to write off the following uncollectible accounts: T. J. Dooley, $766: Design Works. Inc., $2.413; and S. DeWitt, $134. Sep. 30 Nov. 22 Dec. 31 Recorded uncollectible-account expense equal to 2% of credit sales of $141.400. Wrote off the following accounts receivable as uncollectible: Transnet Corp.. $1,345: Webvan, Inc., $2,109; and The Avenue Group, $755. Recorded uncollectible-account expense based on the aging of accounts receiv- able. Required Age of Accounts Total Balance 1-30 31-60 61-90 Over 90 Days Days Days Days $256,600 $121.500 $86.000 $34.000 $15,100 Estimated percent uncollectible 0.2% 0.5% 4.0% 50.0% 1. Record the transactions in the journal. 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 Delforce's Accounts Receivable balance was $271.400 and the Allowance for Uncollectible Accounts stood at 8,240 at December 31, 20X3, show how the company will report its accounts receivable in a comparative balance sheet for 20X4 and 20X3.