Allowance for Uncollectible Accounts - Aging Method Sales-R-Us beginning general ledger shows an allowance for doubtful accounts balance of $10,000 credit balance. The year-end trial balance before adjustments, reports gross accounts receivable of $100,000 and allowance for doubtful accounts of $5,000 credit. Be sure to use the proper format for all JEs (Journal Entries). 1. Using the aging method, the company estimates that it will be unable to collect 11% of the total accounts receivable at year end. Write the journal entry for updating their ADA account at year end. 2. After making the required journal eatry for bad debts at year end, what is the ending balance in allowance for uncollectible accounts? Allowance For Doubtful Accounts 3. On December 31, how much (in total) is owed to Sales-R-Us by customers? What do they expect to receive (the "nct realizable value") from customers? 4. Obviously, during the year, some of the ADA was written off, please show the correct JE that had been done to bring the ADA account Einanelal Assets Homenork-Solutions Alonance for WocollectiDle Acopuaks - Pcroenthae of Sales Method On January 1 , the Sell-U-knythisg Company had a boginsing balance in Mconents Receivable of 5.40,000 Debit, and a beginning balaece in the Allowance for Uncollectible Acounts of \$1,100 Crolit Daring the year, the company reported \$140,000 of credit sales asd sio,000 of Cash Sales. Dering the year, eash collections of rexthables ammanted to $129,000 and $1.500 of eustomer roceivables were writeen off as uncollectible. Using the inkirmation abore, complete the following: 1. What is the ending accounts receivalle balasee at Deeember 31? 2. The company ertimates that it will be unable to colloet 3% of crodit sales. Write the jourbal entry for updating tleir Allow ance acecent at yrar end. 3. What will allowance acooent be at December 34, 2016 ueing this allowance method? 4. What Allowance for Uncollatible Acmunte Melbal reflects a Balasce 5bect Appeuacb? Whicb one relkets an theomie Statement Approach