eato.mhecucation.com/ext/map/index.html?_con=con&externalbrowser-0&launchUrl=https%253A%252F%252Fconnect.mheducat er 7 Homework as 7-7 (Static) Reporting allowance for doubtful accounts LO P2 On December 31 of Swift Company's first year, $50,000 of accounts receivable was not yet collected. Swift estimated that $2,000 of its accounts receivable was uncollectible and recorded the year-end adjusting entry. 1.. Compute the realizable value of accounts receivable reported on Swift's year-end balance sheet. 2. On January 1 of Swift's second year, it writes off a customer's acc her's account for $300. Compute the realizable value of accounts receivable on January 1after the write-off. Before Write- Realizable alue of ac 50,000 SCheck my work mode : This shows what is correct or Incorrect for the work you have completed so far. It does h Qs 7-6 (Static) Allowance method for bad debts LO P2 Gomez Corporation uses the allowance method to account for uncollectibles. On January 31, it wrote off an $800 accoum of a customer. C. Green. On March. 9. it receives a $300 payment from Green. 1. Prepare the journal entry for January 31 2. Prepare the journal entries for March 9: assume no additional money is expected from Green * Answer is complete but not General Journal Credit 1 . January 31 Bad debts expense Allowance for doubtful accounts 300 2. -March 09 Accounts receivable C. Green Bad debts expense . 3 March 08 Cash Acc unts'receivable-C. Green