f. Woodson, Inc. reported the following information for 2020: Sales = $3,000,000 (90% credit) A/R (12/31) = $320,000 AFDA (before AJE's) = $2,100 debit 1. Assume 1% of credit sales are estimated uncollectible. a) Record the entry to estimate bad debts. b) What is the net realizable value of A/R? BDE 29,100 AFDA 29,100 Net realizable value= 320,000-27,000= 293,000 2. Assume, instead, 6% of A/R are estimated uncollectible. a.) Record the entry to estimate bad debts. b) What is the net realizable value of A/R? BDE 21,300 AFDA 21,300 Net realizable value= 320,000-19,200- 300,800 3. Assume net A/R at 12/31/19 = $280,000. Compute the days' sales in receivables (average collection period) for 2020 assuming your amounts in #2. Comment on this ratio assuming credit terms offered to customers are 2/10, n/30