Al Majed financial statements for the 2007 and 2006 fiscal years contained the following information: Balance Sheets (Sin millions) 2007 2006 Current Assets: Accounts receivable, net of alowances for uncollectibles of $1,364 in 2007 and $1,276 in 2006 $16,185 $16,194 Income Statements (S in millions) 2007 2006 Revemes $118,928 $63,055 In addition, the statement of cash flows indicates that the cash collected from customers in 2007 was $117,320. Required: (2+3+3= 8Marks) Estimate the closing balances of gross account receivable as on December 31, 2006, and 2007. a. b. Determine the amount of uncollectable written off by Al Majed during 2007. C. Determine the amount of bad debt expense that Al Majed would include in its income statement for 2007