1. The following accounts are part of the balances in the financial statements of ABC company prior to providing for uncollectible accounts expense: Accounts Receivable $1,200,000 Allowance for Uncollectible accounts (credit balance) $10,000 Sales $1,200,000 a) Assuming that ABC provides for bad debts using 1% of Accounts Receivable balance, make necessary entries to provide for bad debts. b) Make necessary entries to write off $2,000 of the outstanding accounts with XYZ company. c) Subsequent to the action in b above, XYZ paid $1,200 of the amount previously written off. d) Assuming that ABC uses Sales as the basis for providing for bad debts, show the journal entry to provide for bad debts