Colorado Rocky Cookie Company offers credit terms to its customers. At the end of 2018, accounts receivable totaled $715,000. The allowance method is used to account for uncollectible accounts. The allowance for uncollectible accounts had a credit balance of $50,000 at the beginning of 2018 and $30.000 in receivables were written off during the year as uncollectible. Also $3,000 in cash was received in December from a customer whose account previously had been written off. The company estimates bad debts by applying a percentage of 15% to accounts receivable at the end of the year. Required: 1. Prepare journal entries to record the write-off of receivables, the collection of $3,000 for previously written off receivables, and the year-end adjusting entry for bad debt expense. 2. How would accounts receivable be shown in the 2018 year-end balance sheet? 1 Record the write-off of receivables. 2 Record the reinstatement of an account previously written off. 3 Record collection of account previously written off. 4 Record bad debt expense for the year. How would accounts receivable be shown in the 2018 year-end balance sheet? Balance Sheet (Partial) Current Assets Accounts receivable (net)