a. Sales of $255,000, which included $160,000 in credit sales and $95,000 of cash sales. Ignore cost of goods sold. b. Cash collections on account, $96,000. c. Write-offs of uncollectible receivables, $3,100. d. Bad debt expense, estimated as 1% of credit sales. Requirements 1. Prepare journal entries to record sales (ignore cost of goods sold), collections, write-offs of uncollectibles, and bad debt expense using the percent of sales method. 2. Calculate the ending balances in Accounts receivable, Allowance for uncollectible accounts, and net accounts receivable at January 31, 2018. How much does CR's Auto Repair expect to collect? les CR's Auto Repair, Inc., ended December 2017 with Accounts receivable of $20,000 and a credit balance of $4,000 in Allowance for uncollectible accounts. During January 2018, CR's Auto Papar, Inc. completed the following transactions Click the loon to view the transactions Read the squeaments Requirement 1. Prepare joumal onines to record sales (ignore cost of goods sold), collections, write-offs of uncollectibles, and bad debt expense using the percent of sales method (Record cetits est, then credits. Exclude explanations from any journal entries.) a. Let's start by entering the journal entry for the sales of $255,000 which included $160,000 in credit sales and $05,000 of cash sales Ignose cost of goods sold Date Journal Entry Accounts Deb Credit (Click the icr Read the quirs Requirement 1. Accounts receivable Allowance for uncollectible accounts credits Exclude Bad debt expense f goods sold), collections, write-offs of uncollectibles, and bad debt expense using the percent of sales method. (Record debits ich included $160,000 in credit sales and $95,000 of cash sales. Ignore cost of goods sold a. Let's start by s Cash Sales revenue Jebit Date Credit a b. Neod, record the collections on account, $96.000 Date b. Journal Entry Accounts Debit Credit Type here to search IT DELL Time Remaining: 00:17:42 Nex 65F Mostly cloudy 442 PM 58/2022 Read the requirements. b. Next, record the collections on account, $96,000 Date b. Journal Entry Accounts Debit Credit c. Record the entry to write off the uncollectible receivables, $3,100. c. Record the entry to write off the uncollectible receivables, $3,100, Journal Entry Date Accounts Debit Credit Time Rema d. Now we can record the bad debt expense, estimated as 1% of credit sales. Date d. Journal Entry Accounts Debit Credit: Time P (Click the icon to view the transactions.) Read the requirements CHO Allowance for uncollectible accounts. During January 2018, CR's Auto Repair, Inc, completed Requirement 2. Calculate the ending balances in Accounts receivable, Allowance for uncollectible accounts, and net accounts receivable at January 31, 2018 How much does CR's Auto Repair expect to collect? Begin by calculating the ending balance in each account using the following T-accounts Accounts receivable. Bog Bal 20,000 Allowance for uncollectible accounts Beg Bal 4,000 www ww Next, let's compute the net Accounts Receivable at January 31. Net accounts receivable How much does CR's Auto Repair expect to collect? CR's expects to collect wyw wwwww