1. The Corning Company uses the percent of sales method of accounting for uncollectible accounts receivable. At the beginning of the current year, the Allowance for Doubtful Accounts had normal balance of $8,000. The following transactions took place during the current year: Sept. 7 Corning Company determined that the $10,600 account receivable of the Helena Company was uncollectible and wrote it off. Nov. 9 Helena Company paid $6,000 of the amount owed to the Corning Company. Corning Company does not expect further collections from the Helena Company. Dec. 31 Corning Company estimates that 0.5% of its $1,900,000 of credit sales would be uncollectible. Required: Part a. Prepare journal entries to record these transactions. Part b. Determine the balance of the Allowance for Doubtful Accounts at the end of the current year. Assume that the transactions above are the only transactions affecting this account during the year