Exerclse 7-6A (Algo) Effect of recovering A recelvable prevlously written off LO 7-1 Renue Spa had the following balances at December 31, Year 2: Cash of $12,000. Accounts Receivable of $89,000, Allowance for Doubtful Accounts of $2,400, and Retained Earnings of $98,600. During Year 3, the following events occurred: 1. $2,000 of accounts receivable were written off as uncollectible. 2. Renue unexpectedly collected $120 of receivables that had been written off in a previous accounting period. 3. Services provided on account during Year 3 were $212,000. 4. Cash collections from receivables were $213,945. 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 ? Complete this question by entering your answers in the tabs below. Organize the transaction data in accounts under an accounting equation. Note: Enter any decreases to account balances with a minus sign. Not all cells require input