Fan-Tastic Sports Gear Inc recorded $2,900,000 of sales last year and projects sales to increase by 5350,000 in the current year. Last year. 80% of sales were on account, with over! 300 customer accounts. Bad debt expense was $26, 187 a 1. Assume that Fan-Tastic Sports Gear Inc. used the allowance method last year, and the allowance account at the end of the year had a debit balance of $2.240. The company estimated uncollectible nocounts exponse using the percent of credit sales method and expected 0.75% of credit sales to be uncollectible. What is the amount of the adjusting entry to provide for doubtful accounts on December 317 Round a computations to the nearest do 2. How much higher (lower) would Fun-Tautic Sports Gear in net income have been under the slowance method assumption previously shown in (1) than under the direct write of method? (Enter "ot there is no change) Higher by S 3. Using the allowance method, the net realizable value of the receivable would appear on which financial statement? Balance sheet