1. As of December 31, 2020, Gill Co. Reported accounts receivable of $216,000 and an allowance for uncollectible accounts of $8,400. During 2021, Gill Co. reported credit sales of $780,000 and cash collections from credit customers of $750,200. During 2021, Gill Co. wrote off $7,800 of accounts receivable it had attempted to collect and failed. An analysis of Gill Co.s December 31, 2021 accounts receivable suggests that the Allowance for Uncollectible Accounts should be 3% of accounts receivable. (Hint: Use T-accounts)
   1. Assuming Gill Co. uses the Balance Sheet Approach to calculate bad debt expense, what bad debt expense would Gill Co. report on its 2021 Income Statement?
   2. Prepare the journal entry to record the bad debt expense for 2021. (ignore dates)