how do i determine net amount of accounts receivable reported on a balance sheet from this problem?

not indicate completion. Return to Raintree Cosmetic Company sells its products to customers on a credit basis. An adjusting entry for bad debt expense is recorded only at December 31, the company's fiscal year-end. The 2020 balance sheet disclosed the following: Current assets: Receivables, net of allowance for uncollectible accounts of $35,000 5 457,000 During 2021, credit sales were $1.775.000, cash collections from customers $1855.000, and $40,000 in accounts receivable were written off. In addition, $3,500 was collected from a customer whose account was written off in 2020. An aging of accounts receivable at December 31, 2021, reveals the following Age Group 0-60 days 61-90 days 91-120 days over 120 days Percentage of Year-End Receivables in Group 65% 15 15 5 Percent Uncollectible 4% 10 30 50 Required: 1. Prepare summary journal entries to account for the 2021 write-offs and the collection of the receivable previously written off 2. Prepare the vear-end adusting entry for bad debts according to each of the following situations