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Answer all the question in the picture The following information is available for Quality Book Sales' sales on account and accounts receivabl Accounts receivable balance,

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The following information is available for Quality Book Sales' sales on account and accounts receivabl Accounts receivable balance, January 1, 2016 Allowance for doubtful accounts, January 1, 2016 Sales on account, 2016 Collection on accounts receivable, 2016 $ 79,500 4,910 560,000 566,000 After several collection attempts, Quality Book Sales wrote off $2,960 of accounts that could not be collected. Quality Book Sales estimates that 5 percent of the ending accounts receivable balance will be uncollectible. Required a. Compute the following amounts: (1) Using the allowance method, the amount of uncollectible accounts expense for 2016. Amount of uncollectible accounts (2) Net realizable value of receivables at the end of 2016. Net realizable value b. Record the general journal entries to: (1) Record sales on account for 2016. (2) Record cash collections from accounts receivable for 2016. (3) Write off the accounts that are not collectible. (4) Record the estimated uncollectible accounts expense for 2016. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

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