During its first year of operations, Gavin Company had credit sales of $3, 777, 200; $647, 800 remained uncollected at year-end. The credit manager estates that $41, 900 of these receivables will become uncollectible. Your answer it partially correct. Prepare the journal entry to record the estimated uncollectibles. Prepare the current assets section of the balance sheet for Gavin Company. Assume that in addition to the receivables it has cash of $91, 500, inventory of #135, 7500, and prepaid insurance of $9, 800. Prepare the current assets section of the balance sheet for Gavin Company. Assume that in addition to the receivables it has cash of $91, 500, inventory of $135, 700, and prepaid insurance of $9, 8.00