For b on question 7, please explain the impact of the write-off. (There are four of them, please provide explanation on each of them)

Belle Company has the following account balances at December 31, 2017 Accounts Receivable Allowance for Doubtful Accounts Sales (all on credit) Sales Returns Bad Debt Expense 100,000 1,000 920,000 20,000 1. What are gross receivables at December 31, 2017? 0C,0oo 2. What is the net realizable value of accounts receivable at December 31, 2017? 00 3. How much cash does Belle Company expect to collect from its receivables? 4, 00o 4. Assume the Company estimates that Bad Debt Expense for 2017 are 1% of net sales. Prepare the 0o-1,000-9,000 5. 6. 7. adjusting entry for December 31, 2017 920 00-2000): 90000 x1 % *9,000 After the adjusting entry in #4, what are gross receivables? 10000 After the adjusting entry in #4, what is the net realizable value of accounts receivable? If an account is written off as uncollectible on January 5, 2018 for $1,000: lous 0,000 What is the journal entry? Ale 00oo Allow lo ao a. b. What impact does the write-off on 1/5/18 have on: none A 19,00o ,000 i. Net income li. Gross accounts receivable -,000-Ho ii Total current assets iv. Total owners' equity on Dev D