Colorado Rocky Cookie Company offers credit terms to its customers. At the end of 2018, accounts receivable totaled $650,000. The allowance method is used to account for uncollectible accounts. The allowance for uncollectible accounts had a credit balance of $37,000 at the beginning of 2018 and $23,500 in receivables were written off during the year as uncollectible. Also, $1,700 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, 121 Required: 1. Prepare journal entries to record the write-off of receivables, the collection of $1700 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? 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 $1,700 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 Journal entry worksheet Record the write-off of receivables