LifeIsGood Co. began its fiscal year of 2021 with balances in accounts receivable and allowance for doubtful accounts of $44,300 and $1,675, respectively. The company reported credit sales of $490,250 during the year, and wrote off $1,400 of uncollectible accounts. The Company prepared the following aging schedule on December 31, 2021: Number of Days Past Due Current 0-30 31-60 61-90 Over 90 Total Receivables % Likely to be Amount Uncollectible $ 24,750 1% 8,300 5% 9,000 10% 2,150 25% 1,750 50% $ 45,950 Requirements: a) Prepare general journal entries to record the 2021 credit sales, collection of accounts receivable, write-off of uncollectible accounts, and estimate of uncollectible accounts. (10 points) b) What is the Company's realizable value of receivables after all of the above entries have been made? Show your work. (4 points)