During its first year of operations, Wildhorse Company had credit sales of $3,408,000; $661,300 remained uncollected at year-end. The credit manager estimates that $42,500 of these receivables will become uncollectible. (a) Your answer is correct. Prepare the journal entry to record the estimated uncollectibles. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Bad Debt Expense Allowance for Doubtful Accounts eTextbook and Media List of Accounts Debit 42500 Credit 42500 Attempts: 1 of 5 used Your answer is partially correct. Prepare the current assets section of the balance sheet for Wildhorse Company. Assume that in addition to the receivables it has cash of $91,000, inventory of $139,400, and prepaid insurance of $8,000. (List Current Assets in order of liquidity.) ets ceivable Allowance for Doubtful Accounts urance t Assets WILDHORSE COMPANY Balance Sheet (Partial) +A $ $ +A $ 91000 139400 8000