7.During Browne Company's first year of operations, credit sales totaled $200,000 and collections on credit sales totaled $155,000.Brown estimates that $1,000 of its ending accounts

7. During Browne Company's first year of operations, credit sales totaled $200,000 and collections on credit sales totaled $155,000. Brown estimates that $1,000 of its ending accounts receivable balance will not be collected. By year-end, Browne had written off $550 of specific accounts as uncollectable.

a) Prepare all approprite journal entries relative to uncolectible accounts and bad debt expense.

b) Show the year-end balance sheet presentation for accounts receivable.