3. Vantage Company had a beginning balance of $250,000 in the allowance for doubtful accounts, wrote off accounts totaling $10,000 during the year, and estimated the ending balance in the allowance to be 10% of accounts receivable based on an analysis of the December 31 accounts receivable balance of $3,000,000. What is bad debt expense for the year? 4. Seven Fags lne, had a beginning balance and ending balance in accounts receivable of $140,000 and $260,000, respectively. The beginning of year balance in the allowance for doubtful accounts was a credit of $28,000. Sales on credit were $2,000,000 for the year, and the company wrote off accounts totaling $28,000 during the year, (a) What were cash collections on sales during the year? (b) If the company estimates expected bad debt expense as 0.5% of credit sales, what is the net amount expected to be collected from accounts receivable at year-end