Exercise 7-6A (Algo) Effect of recovering A receivable previously written off LO 7-1 Renue Spa had the following balances at December 31, Year 2: Cash of $18,000, Accounts Receivable of $81,000, Allowance for Doubtful Accounts of $2,300, and Retained Earnings of $96,700. During Year 3, the following events occurred: 1. $2,500 of accounts receivable were written off as uncollectible. 2. Renue unexpectedly collected $180 of receivables that had been written off in a previous accounting period. 3. Services provided on account during Year 3 were $221,000. 4. Cash collections from receivables were $223,028. 5. Uncollectible accounts expense was estimated to be 1 percent of the sales on account for the period. Required: 1. Organize the transaction data in accounts under an accounting equation. 2. Based on the preceding information, compute (after year-end adjustment): (1) Balance of Allowance for Doubtful Accounts at December 31, Year 3. (2) Balance of Accounts Receivable at December 31, Year 3 (3) Net realizable value of Accounts Receivable at December 31, Year 3. 3. What amount of uncollectible accounts expense will Renue Spa have for Year 3?