Grover Inc. uses the allowance method to account for uncollectible accounts expense. Grover Inc. experienced the following four accounting events in Year 1 1. Recognized $92,000 of revenue on account 2. Collected $78,000 cash from accounts receivable 3. Wrote off uncollectible accounts of $720 4. Recognized uncollectible accounts expense. Grover estimated that uncollectible accounts expense will be 1 percent of sales on account Grover Inc. uses the allowance method to account for uncollectible accounts expense. Grover Inc. experienced the following four accounting events in Year 1 1. Recognized $92,000 of revenue on account 2. Collected $78,000 cash from accounts receivable 3. Wrote off uncollectible accounts of $720 4. Recognized uncollectible accounts expense. Grover estimated that uncollectible accounts expense will be 1 percent of sales on account