II. The Smart Computer Company. Companys records for year end of 2015, before adjustments:

2015, $

Cash 110 000

Accounts receivable 850 000

Allowance for doubtful accounts (43 000)

Net sales 2 500 000

In order to estimate the value of Smarts receivables, compute Uncollectible Accounts Expense for 2015, and determine the ending balance of Allowance for Uncollectible Account and Accounts Receivable, Net, under (a) the % of net sales method assuming 1.6 % of net sales to be uncollectible and (b) the accounts receivable aging method, assuming year end uncollectible accounts to be $ 78 000. (c) Compute the receivables turnover and days sales uncollected for 2015, assuming that the prior years net accounts receivable were $720 000.