Capital sells its services to customers on account. The December 31, 2021 balance sheet disclosed the following: Current Assets: Accounts Receivable, net of allowance for uncollectible accounts of $32,000 $538,000 During 2022 the following activities occurred: Total credit sales $2,700,000 Total cash collections from customers $2,720,000 Accounts receivable written off $25,000 1. What is the balance in the Accounts Receivable account at 12/31/2022? (Hint: use a T-account to post all the information provided above that impacts the Accounts Receivable account in 2022) 2. Calculate the amount of bad debt expense to be recorded at 12/31/2022 under each of the following independent situations and assuming no bad debt expense has yet been recorded for 2022: a. Bad debt expense is estimated to be 2% of credit sales for the year. b. Bad debt expense is calculated using the results of the aging analysis shown below. An aging of receivable at December 31, 2022, reveals the following: Age Group 0-60 days 61-90 days 91-120 days Over 120 days Percentage of Year-end Receivables in Group Percent Uncollectible 65% 6% 20% 12% 10% 22% 5% 40% NOTE: Using an aging of accounts receivable is one approach for using the gross receivables method. Using an aging approach applies a different percentage to each aging category in determining the