E 7-5 LO3 Accounting for Uncollectible Accounts Receivable Mahogany Company had the following information relating to its accounts receivable at December 31, 2021, and for the year ended December 31, 2022: Accounts receivable balance at 12/31/21 Loss allowance at 12/31/21 (credit balance). Gross sales during 2022 (all credit) Collections from customers during 2022 Accounts written off as uncollectible during 2022. Estimated uncollectible receivables at 12/31/22. 284 Part 2 Operating Activities $ 750,000 45,000 3,500,000 $3,075,000 50,000 90,000 Mahogany Company uses the allowance method to estimate expected credit loss. 1. At December 31, 2022, what is the balance of Mahogany Company's Loss Allowance? What is the expected credit loss for 2022? 2. At December 31, 2022, what is the balance of Mahogany Company's gross accounts receivable?

Accounting for Uncollectible Accounts Receivable Mahogany Company had the following information relating to its accounts receivable at December 31 , 2021, and for the year ended December 31, 2022: 2 Operating Activities Mahogany Company uses the allowance method to estimate expected credit loss. 1. At December 31, 2022, what is the balance of Mahogany Company's Loss Allowance? What is the expected credit loss for 2022? 2. At December 31,2022 , what is the balance of Mahomany Company's gross accounts receivable