Brief Exercise 7-14 (Algo) Uncollectible accounts; balance sheet approach [LO7-5, 7-6] The following information relates to a company's accounts receivable: gross accounts receivable balance at the beginning of the year, $440,000, allowance for uncollectible accounts at the beginning of the year, $33,000 (credit balance), credit sales during the year. $1,650,000, accounts receivable written off during the year, $24,000, cash collections from customers, $1,800,000. Assuming the company estimates that future bad debts will equal 11% of the year-end balance in accounts receivable. 1. Calculate bad debt expense for the year 2. Calculate the year-end balance in the allowance for uncollectible accounts. 1. Bad debt expense 2. Ending balance $ 181,500 $ 190,500