at January 1,2016 bob had accounts receivable of 31,000, and allowance for bad debts had a credit balance of 3,000.during the year, bob recorded the following:

a.sales of 174,000(157,000 on account;17,000 for cash).ignore cost of goods sold

b.collections on account,131,000.

c.write-offs of uncollectable receivables,2,200

1.journalize bobs transactions that occurred during 2016.the company uses the allowance method.

2.post bobs transactions to the accounts receivable and allowance for bad debts t-accounts.

3.journalize bobs adjustment to record bad debts expense assuming bob estimates bad debts as 3% `of accounts receivable.post the adjustment to the appropriate t accounts.

4.show how bob will report net accounts receivable on its december 31,2016,balance sheet.