Colorado Rocky Cookle Company offers credit terms to its customers. At the end of 2024, accounts recelvable totaled $690,000. The alfowance method is used to account for uncollectible accounts. The allowance for uncollectible accounts had a credit balance of $45,000 at the beginning of 2024 and $27,500 in recelvables were written off during the year as uncollectible. Also, $2,500 in cash was received in December from a customer whose account previousty had been written ofl. The company estimates bad debts by applying a percentage of 10% to accounts recelvable at the end of the year. Required: 1. Prepare journal entries to record the write-off of receivables, the collection of $2.500 for previously written off recelvables, and the year-end adjusting entry for bad debt expense. 2. How would accounts recelvable be shown in the 2024 year-end balance sheet? Complete this question by entering your answers in the tabs below. How would accounts recelvable be shown in the 2024 year-ond balance sheet