Exercise 7-11 Uncollectible accounts; allowance method; balance sheet approach [L07-5,7.6 Colorado Rocky Cookie Company offers credit terms to its customers. At the end of 2018, accounts receivable totaled $6 70,000. The lowance method is used to account for uncollectible accounts. Th $41,000 at the beginning of 2018 and $25,500 in receivables were written was received in December from a customer whose account previously had been written off. The company estimates bad debts applying a percentage of 15% to accounts receivable at the end of the year. e allowance for uncollectible accounts had a credit balance of off during the year as uncollectible. Also, $2.100 in cash Required 1. Prepare journal entries to record the write-off of receivables, the collection of $2,100 for previously written off receivables, and the year-end adjusting entry for bad debt expense. 2. How would accounts receivable be shown in the 2018 year-end balance sheet? Complete this question by entering your answers in the tabs below bles, the collection of $2,100 for y written off rec and the year-end adjusting entry for bad debt expense. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the write-off of receivables Next