Accounts Receivable Allowance Methods Marion Company had sales revenue of $765,000 in 2019. Allowance for Bad Debts has a credit balance of $700. Study of prior year's figures indicates 1.1% of net sales are uncollectible and 5.0% of A/R are uncollectible December 31, 2019 Age of Accounts 1-30 Days 31-60 Days 61-90 Days Over 90 Days Accounts Receivable 104.000 Estimated Uncollectible 62,000 0.5% 28,000 5% 10,000 16% 4,000 55% 1. Prepare the journal entry to estimate bad debit expense assuming The company uses the of sales method b. The company uses the of A/R method The company uses the aging of A/R method 2. Prepare the journal entry to write of $1,200 A/s from Grant Company on March 2, 2020 2. Prepare the journal entries to record collection of so from Grant Company on June 5, 2020