Aging of Accounts Receivable The Miler Companys accounts receivable reveal the following balances by age cragency. The allownce for uncollectible accourts has an eisting positive balarce of 527,360 . The company's intemal audtors sugest that the following pertentages be used to estimate the amount of oustanding rectiables that will evertualy prove to be uncollectible. Required Caloulate the projected new balance for (a) the allowence for uncollectible accounts and (b) the bad debts expense. \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Year 1} \\ \hline & is & os & \\ \hline Less Cost of goods sold & & 0 & \\ \hline & 4 & 0 & 0 \\ \hline & & 0 & \\ \hline & 45 & os & \\ \hline \end{tabular} Improving Cash Flow through Recehable Management Star Commurications designs, manufactures, and sels telecommunication equipment, and provides senvices associated with their instalation, operation, and maintenance in China, inda, Korea, and Vietnam. During Vear 3, the company's share price traded as high as 523 per share. Pricenstertousecospers. Communications' Vear 2 anrual report 1. [a] Caloulate Star Communications receivable collection period for Year 1 and Year 2 . Round to two decimal places. (A) Is the company's receivible managemert decreuning in quality improving or about the same? 2. If the company could improve its receivable collection period to the industry average of 60 days, how much additional cash flow from accounts receivable would have been generated in Year 1 and Year 2 ? In blligrs, rounded to three decimal ploces