At the end of the current year (before adjusting entries), Orange Corporation had a balance of $82,000 in Accounts Receivable and a credit balance of $6,000 in Allowance for Uncollectible Accounts. Service revenue (all on credit) for the year totaled $500,000 Read the requirements Requirement 1. Using the percent-of-sales method, calculate the amount of Uncollectible-Account Expense if Orange Corporation estimates its uncollectible-account expense using a rate of 4% of credit sales. What is the ending balance of the Allowance for Uncollectible Accounts under this scenario? Orange Corporation has $ of uncollectible-account expense using the percent-of-sales method. The ending balance of the Allowance for Uncollectible Accounts is $ under this scenario Consider each of the following two independent situations. 1. Using the percent-of-sales method, calculate the amount of Uncollectible-Account Expense if Orange Corporation estimates its uncollectible-account expense using a rate of 4% of credit sales. What is the ending balance of the Allowance for Uncollectible Accounts under this scenario? 2. Now assume that Orange Corporation uses the aging-of-receivables method. Orange Cprporation estimates that its Allowance for Uncollectible Accounts should have a credit balance of $17,000. Calculate the amount of its Uncollectible-Account Expense. What is the ending balance of the Allowance for Uncollectible Accounts under this scenario