At the end of last year, the company had $645,000 in outstanding Accounts Receivable and a credit balance for Allowance for Doubtful Account of $34,200. During the current fiscal year, the company reported the following: 1. Service revenue of $1,420,000 was billed to customers on account. 2. $1,520,000 was collected on customers' accounts receivable. 3. The company wrote off $32,100 in accounts receivable. 4. The company collected $3,200 of previously written off accounts receivable. 5. The company uses the percentage of receivables to estimate bad debts expense. Based on experience, uncollectible accounts are expected to be 7% of accounts receivable. Instructions Write you answers by hand, scan your working papers and upload to the link on the main page of the Moodle website as a PDF file. Show any calculations. Printing the problem information is permitted but only for personal use during the exam. a) Prepare the journal entries to write-off of accounts receivable and the collection of the previously written off account during the year. b) Prepare the current year-end adjusting entry to record bad debt expense. c) Prepare the accounts receivable section of the balance sheet for the current year end in classified format