LL The following information relates to a company's accounts receivable: gross accounts receivable balance at the beginning of the year, $410,000, allowance for uncollectible accounts at the beginning of the year. $30,000 (credit balance), credit sales during the year, $1,500,000, accounts receivable written off during the year. $21.000: cash collections from customers, $1,400,000. Assuming the company estimates that future bad debts will equal 8% of the year-end balance in accounts receivable. 1. Calculate bad debt expense for the year 2. Calculate the year-end balance in the allowance for uncollectible accounts