ASSIGNMENT INFORMATION AND REQUIREMENTS ABC Company sells its products to customers on a credit basis (no cash sales are made). An adjusting entry for bad debts is recorded only at December 31 , the company's year-end. Assume that as of December 31,2022,ABC has $700,000 in accounts receivable. Further assume the following information with regards to these receivables. REQUIRED 1. Based on the aging schedule above, determine the dollar amount of ABC s accounts receivable estimated to be uncollectible as of 12/31/2022. 2. Assume the 12/31/2022 unadjusted balance in ABC s allowance for doubtful accounts (ADA) is a $4,000 debit balance [more accounts were written off during 2022 than anticipated]. Prepare ABC 's December 31,2022 adjusting journal entry to record 2022 bad debt expense and establish an appropriate balance in its ADA. 3. Determine the net realizable value of ABC s December 31,2022 accounts receivable. 4. Assume that during 2023 , the following accounts are deemed uncollectible and written off by ABC : (a) Prepare journal entries to record the write-off of these accounts. Prepare two journal entries, one entry for each account written off. (b) Determine the unadjusted balance in ABC's ADA account as of 12/31/2023. 5. During 2023ABC had credit sales of $8,000,000 and collection of accounts receivable during 2023 totaled $6,801,300. Prepare a schedule reconciling the $700,0001/1/2023 accounts receivable balance to the end of the year balance (12/31/2023). [Do not forget to consider the accounts written off during 2023] 6. Assume an aging of accounts receivable at 12/31/2023 indicates that 4 percent of these receivable are estimated to be uncollectible. Prepare ABCs12/31/2023 adjusting journal entry to record 2023 bad debt expense and establish the appropriate balance in the ADA. Show your work as to how your arrived at the dollar amount