During Burns Company's first year of operations, credit sales totaled $154,000 and collections on credit sales totaled $112,000. Bums estimates that bad debt losses will be 2.0% of credit sales. By year-end, Burns had written off $370 of specific accounts as uncollectible. Required: 1. Prepare all appropriate journal entries relative to uncollectible accounts and bod debt expense. 2. Show the year-end balance sheet presentation for accounts recelvable. Complete this question by entering your answers in the tabs below. Prepare all appropriate journal entries relative to uncollectible accounts and bad debt expense. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account feld. During Burns Company's first year of operations, credit sales totaled $154,000 and collections on credit sales totaled $112,000. Burns estimates that bad debt losses will be 2.0% of credit sales. By year-end, Burns had written off $370 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. Show the year-end balance sheet presentation for accounts receivable