Lopez & Company, located in the beautiful Puget Sound, provided the following post-closing trial balance for the year ended December 31, 2022 ACCOUNT DEBIT CREDIT Cash $ 72,000 Accounts Receivable 110,000 Allowance for doubtful accounts $ 8,250 Inventory 56,000 Equipment 300,000 Accumulated Depreciation Equipment Accounts Payable Capital, Lopez TOTAL 538,000 120,000 137,500 272,250 538,000 During the fiscal year 2023, the company had the following select transactions: 1. Net sales of $1,320,000. Credit sales are 40% and the rest are cash sales 2. Cash collections from credit customers totaled $522,400 3. Write-offs of uncollectible accounts $14,800 4. At the end of the year, the company estimates that 7.5% of accounts receivable are uncollectible REQUIRED (a) Calculate the accounts receivable balance on December 31, 2023 (b) Calculate the bad debts expense for year 2023 (c) Calculate the adjusted ending balance of the allowance for doubtful accounts on December 31, 2023 (a) Accounts Receivable balance on December 31, 2023 (b) Bad debts expense for year 2023 (c) Adjusted Allowance for Doubtful Accounts balance on December 31, 2023