Brief excercise 8-3 During its first year of operations, Gavin compony had credit sales of $3,000,000; $600,000 remained uncollected at year-end. The credit manager estimates that $31,000 of these recievables will become uncollectable. Prepare to the Journal Entry to record estructed uncollectables Account title & Explanation Debit credit to the recievables Prepare the current assets section of the balance shee Sheets for Gavin Company Assume that in addition it has cash of $90,000, mwentory of sease, Prepaid Insurance $7,500 $130,000 Gavin Company Balance Sheet (Partial) $