22 points) Colvin's Construction products began 2018 with the following balances: Accounts Receivable $630,000 Allowance for Doubtful Accounts (14,000) Colvin's uses the percentage of receivables approach to estimating uncollectible accounts receivable. During the year, the following transactions took place: (1) Colvin's sold $220,000 worth of product on account. (2) Cash collections on Accounts Receivable amounted to $415,000. (3) Colvin's wrote off a customer's account as uncollectible, $2,500. (4) Colvin's collected on a previously written off account receivable, $1,350. (5) Colvin's calculated and recorded the December 31 adjustment to allowance for doubtful accounts; Colvin's estimated uncollectible accounts receivable to be 2% of outstanding accounts receivable. Record the above transactions in the horizontal financial statements (3 points ea): Income Statement Assets Liabilities Equity Allow for Net Common Stock Doubtful Retained Accts Pay Earnings Expenses Income Revenue Cash Accts Rec Accts o30060 400 aa0,o60 415.coo (4150003500 4I500 41500 1350) 1350 1350 (2 points ea) ustments? XWhat is the net realizable value of accounts receivable after the December 31 ad -XWhat is the total cash flow impact of the above transactions