During its first year of operations, Sheridan Company had credit sales of $4,200,000, of which $400,000 remained uncollected at year-end. The credit manager estimates that $25,200 of these receivables will become uncollectible. *(a) Your answer is correct. Prepare the journal entry to record the estimated uncollectibles. (Assume an unadjusted balance of zero in Allowance for Doubtful Accounts.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit 75200 7 "Allowance for Doubtful Accounts 25200 had Debt Expensel Attempts: 1 of 15 used *(b) Prepare the current assets section of the balance sheet for Sheridan Company, assuming that in addition to the receivables it has cash of $95,000, merchandise inventory of $172,000, and supplies of $14,000. (List Current Assets in order of liquidity.) SHERIDAN COMPANY Balance Sheet (Partial) Attempts: 0 of 15 used SHERIDAN COMPANY Balance Sheet (Partial) Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Property, Plant and Equipment Owner's Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Owner's Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Owner's Equity for this question: Open Show Work