Colorado Rocky Cookie Company offers credit terms to its customers. At the end of 2018, accounts receivable totaled $720,000. The allowance method is used to account for uncollectible accounts. The allowance for uncollectible accounts had a credit balance of $51,000 at the beginning of 2018 and $30,500 in receivables were written off during the year as uncollectible. Also, $3,100 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 10% to accounts receivable at the end of the year. Required:

1. Prepare journal entries to record the write-off of receivables, the collection of $3,100 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?

Balance Sheet (Partial)
Current Assets
Accounts receivable (net)