Colorado Rocky Cookie Company offers credit terms to its customers. At the end of 2021, 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 2021 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 2021 year-end balance sheet? Required 1 Required 2 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. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Event General Journal Debit Credit 1 1 0 Allowance for uncollectible accounts Accounts receivable 2 2 Cash Allowance for uncollectible accounts 3 3 Bad debt expense Allowance for uncollectible accounts Required 1 Required 2 ..................................................................................................................... How would accounts receivable be shown in the 2021 year-end balance sheet? ......... Balance Sheet (Partial) Current Assets Accounts receivable (net)