A company uses Percentage of Receivable method to estimate for uncollectables, and has determined the percentage to be 3% for the current year. The Accounts Receivables balance at the end of June is $230,000 and Allowance for Doubtful Accounts before adjustment has a credit balance of $3,500. - What is the new estimated uncollectable amount for June? (5 pts) - Record the entry to update the Allowance for Doubtful Account at the end of June (5 pts) - What is the Net Realizable value after updating the Allowance for Doubtful account (5 pts) Two months later on August 31 st, the company decides to write-off a balance of $2,400. However, after the write-off, the company was able to recover the amount on September 30th. - Record the entry on August 31 to write-off (5 pts) - Record the entry on September 30 to recover the amount (5 pts) Instructions: Show all calculations and entries for each item, by numbering your answers. You can show your work handwritten on paper. If using Excel, make sure to display the calculations, as formulas will not be visible on PDF scan