A summary of Tory Company's December 31, 2021, accounts receivable aging schedule is presented below along with the estimated percent uncollectible for each age group:

Age Group Amount %

0-60 days $56,000 0.5

61-90 days 20,000 1.0

91-120 days 2,600 10.0

Over 120 days 1,200 50.0

The allowance for uncollectible accounts have a balance of $1,360 on january 1, 2021. During the year, bad debts of $710 were written off.

1. Record the journey entries for the write-off of the account receivables as well as the adjusting entries for bad debit expenses for the year.

2. shows a year and balance sheet presentation for account receivable (using proper formatting.)