4. Write an answer to the following question: What circumstances would cause the Allowance for doubtiul Accounts to have a debit balance prior to adjustment? Problem Two: A company has the following balances on December 31 , Year 1, before any adjustment: Accounts. Recelvable =$47,000; Allowance for Uncolectible Accounts =$1,100 (credit). On December 31 , Year 1, the company estimates uncollectible accounts to be 15% of accounts receivable. Required: 1. Record the adjusting entry for uncollectible accounts on December 31 , Year 1. 2. Determine the amount at which bad debt expense is reported in the income statement and the allowance for uncollectible accounts is reported in the halanera eharet