During Burns Company's first year of operations, credit sales totaled $172,000 and collections on credit sales totaled $121,00 Burns estimates that bad debt losses will be 2.0% of credit sales. By year-end, Burns had written off $460 of specific accounts as uncollectible. Required: 1. Prepare all appropriate journal entries relative to uncollectible accounts and bad debt expense. 2. Show the year-end balance sheet presentation for accounts receivable. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare all appropriate journal entries relative to uncollectible accounts and 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 bad debt expense. Note: Enter debits before credits Transaction 2 General Journal Debit Credit Record entry Clear entry View general Journal During Burns Company's first year of operations, credit sales totaled $172,000 and collections on credit sales totaled $121,000. Burns estimates that bad debt losses will be 2.0% of credit sales. By year-end, Burns had written off $460 of specific accounts as uncollectible. Required: 1. Prepare all appropriate Journal entries relative to uncollectible accounts and bad debt expense. 2. Show the year-end balance sheet presentation for accounts receivable. Complete this question by entering your answers in the tabs below. Required: Required 2 Show the year-end balance sheet presentation for accounts receivable. Partial Balance Sheet