Colorado Rocky Cookie Company offers credit terms to its customers. At the end of 2021, accounts receivable totaled $695,000 The allowance method is used to account for uncollectible accounts. The allowance for uncollectible accounts had a credit balance of $46,000 at the beginning of 2021 and $28.000 in receivables were written off during the year as uncollectible. Also, $2,600 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 $2.600 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? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare journal entries to record the write-off of receivables, the collection of $2,600 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.) No Event 1 Credit 1 General Journal Allowance for uncollectible accounts Accounts receivable Debit 28 000 28.000 2 Accounts receivable Alowance for uncollectible accounts OS 2.500 2600 3 Cash 2600 Olete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare journal entries to record the write-off of receivables, the collection of $2,600 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.) No Event Credit 1 1 General Journal Allowance for uncollectible accounts Accounts receivable Debit 28.000 28,000 2 2 Accounts receivable Allowance for uncollectible accounts 2,600 2.600 3 3 Cash 2.600 Allowance for uncollectible accounts 2.600 4 4 Bad debt expense Alowance for uncollectible accounts 48.900 48.900 Required 2 >