12 CHAPTER 6 The following information is available for Parsons Corporation, which uses the allowance method of accounting for uncollectible accounts. 2017, the first year of operations $66,000 $58,000 Sales on account Collections on account Parsons expects 1% of sales on account to be uncollectible. Required: a) What is the balance of Accounts Receivable at the end of 2017? b) What is the amount of uncollectible accounts expense for 2017? ANSWER BELOW: (Show your computation details) (If you do not show how you get your answer , you will receive only up to 30% of the credit)