Debit Credit Journal Entry Accounts 1. Accounts Receivable Sales Revenue 1,040,000 1,040,000 870,000 2. Cash Accounts Receivable 870,000 12,000 3. Allowance for Uncollectible Accounts Accounts Receivable 12,000 16,000 4. Bad Debt Expense Allowance for Uncollectible Accounts 16,000 Use the information from the following journal entries to answer the questions about Natural Life Inc. for 2017. (Click the icon to view the journal entries.) 1. Start with the Account Receivable's beginning balance, ($86,000) and then post to the Account Receivable T-account. How much do Natural Life's customers owe the company at December 31, 2017? 2. Start with the Allowance account's beginning credit balance, ($20,500) and then post to the Allowance for Uncollectible Accounts T-account. How much of the receivables at December 31, 2017, does the company expect not to collect? 3. At December 31, 2017, what is the net realizable value of the company's accounts receivable? Requirement 1. Start with the Account Receivable's beginning balance ($86,000) and then post to the Account Receivable T-account. How much do Natural Life's' customers owe the company at December 31, 2017? (Leave any unused cells blank.) Accounts Receivable Beg. Bal. Collections End. Bal. Net credit sales Write-offs ou prepared above, how much is the company owed at December 31, 2017? $ with the Allowance account's beginning credit balance ($20,500) and then post to the Allowance for Uncollectible Accounts T-account. How much of the receivables at December 31, 2017, does the company expect not to nused cells blank.) Allowance for Uncollectible Accounts Using the T-account you prepared above, how much does the company expect not to collect at December 31, 2017? The company expects not to collect at December 31, 2017 $ Requirement 3. At December 31, 2017, what is the net realizable value of the company's accounts receivable? Natural Life's net realizable value of accounts receivable is $