C. (8 marks) ACCOUNTING FOR UNCERTAINTY WITH RECEIVABLES The following information was obtained for Stanley Company at December 31, 2016 (the company's fiscal year end), but before any year-end adjusting entries were made. Accounts receivable at Dec 31, 2016 $ 425,000 Credit sales for 2016 6,380,000 Allowance for uncollectible accounts at Dec 31, 2016 (credit balance) 8,940 a) (4 marks) Assume that management estimates that 4.0% of year-end accounts receivable will not be collected. Prepare the journal entry to record the 2016 bad debts expense, and determine the net accounts receivable at December 31, 2016. Show/explain any calculations b) (1 mark) Assume that management estimates that 1.25% of 2016 credit sales will not be collected. Prepare the journal entry to record the 2016 bad debts expense. Show/explain any calculations c) (3 marks) There had been total accounts receivable write-offs of $5,100 recorded during 2016. Explain how these write-offs would have affected the 2016 net income. Do not consider the information about the write-offs in answering a) and b)