Crystal Lights Company manufactures and sells light fixtures for homes, businesses, and institutions. All of its sales are made on credit to wholesale distributors. Information for Crystal Lights for the current year follows: Total credit sales Accounts receivable at December 31 (after writing off uncollectible accounts) $3,532,000 470,000 Assume that Crystal Lights estimates its bad debts based on an aging analysis of its year-end accounts receivable, which indicates that a provision for uncollectible accounts of $42,100 is required. If there is a debit balance of $11,500 in its Allowance for Doubtful Accounts on December 31, before adjustment: i. What amount will the company report on its statement of income as bad debts expense? Bad debts expense ii. What amount will it report on its statentent of financial position as the net value of its accounts receivable? Accounts receivable $ If there is a $11,500 credit balance in the Allowance for Doubtful Accounts on December 31, before adjustment: i. What amount will the company report on its statement of income as bad debts expense? Bad debts expense $ ii. What amount will it report on its statement of financial position as the net value of its accounts receivable? Accounts receivable $ Assume that Crystal Lights decides to estimate its bad debts expense at 1% of credit sales: If there is a debit balance of $11.500 in its Allowance for Doubtful Accounts on December 31, before adjustment: What amount will the company report on its statement of income as bad debts expense? Bad debts expense $ ii. What amount will it report on its statement of financial position as the net value of its accounts receivable? Accounts receivable $ Assume that Crystal Lights decides to estimate its bad debts expense at 1% of credit sales. If there is a $11,500 credit balance in the Allowance for Doubtful Accounts on December 31, before adjustment: i. What amount will the company report on its statement of income as bad debts expense? Bad debts expense $ ii. What amount will it report on its statement of financial position as the net value of its accounts receivable? Accounts receivable Assume that Crystal Lights uses the direct writeoff method of accounting for bad debts and that the company wrote off accounts totalling $19,600 as uncollectible during the year. What amount will the company report on its statement of income as bad debts expense? Bad debts expense $ e Textbook and Media Assume that Crystal Lights uses the direct writeoff method of accounting for bad debts and that the company wrote off accounts totalling $19,600 as uncollectible during the year. What amount will it report on its statement of financial position as the net value of its accounts receivable? Accounts receivable