Colorado Rocky Cookie Company offers credit terms to its customers. At the end of 2018, accounts receivable totaled $705,000. The allowance method is used to account for uncollectible accounts. The allowance for uncollectible accounts had a credit balance of $48,000 at the beginning of 2018 and $29,000 in receivables were written off during the year as uncollectible. Also, $2,800 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 $2,800 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?

No	Event	General Journal	Debit	Credit
1	1	Allowance for uncollectible accounts	29,000
		Accounts receivable		29,000
2	2	Accounts receivable	2,800
		Allowance for uncollectible accounts		2,800
3	3	Cash	2,800
		Accounts receivable		2,800
4	4	Bad debt expense
		Allowance for uncollectible accounts

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