Answer the following question Learning Objective 1: Describe the common classes of receivables. a) What are the three different types of receivables, and how should they be classified on the balance sheet? Learning Objective 2: Describe the accounting for uncollectible receivables. a) What are the two methods of accounting for uncollectible receivables? Learning Objective 3: Describe the direct write-off method of accounting for uncollectible receivables. a) How do you record transactions for uncollectible accounts under the direct write-off method? Learning Objective 4: Describe the allowance method of accounting for uncollectible receivables. a) How do you estimate and record bad debt expense as a percent of sales under the allowance method? b) How do you record bad debt expense using an analysis of receivables under the allowance method? c) How do you record write-offs and reinstatements of customer accounts under the allowance method? d) How do you calculate the net realizable value that a company will present on its balance sheet