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Use the information from the following journal entries to answer the questions about Spring Garden Plan Inc. for 2020. (Click the icon to view the journal entries.) 1. Start with the Account Receivable's beginning balance, ($88,000) and then post to the Account Receivable T-account. How much do Spring Garden Plan's customers owe the company at December 31, 2020? 2. Start with the Allowance account's beginning credit balance, ($20,000) and then post to the Allowance for Uncollectible Accounts T-account. How much of the receivables at December 31, 2020, does the company expect not to collect? 3. At December 31, 2020, what is the net realizable value of the company's accounts receivable? Red Requirement 1. Start with the Account Receivable's beginning balance ($88,000) and then post to the Account Receivable T-account. How much do Spring Garden Plan's customers owe the company at December 31, 2020? (Leave any unused cells blank.) Accounts Receivable Using the T-account you prepared above, how much is the company owed at December 31, 2020? $ Requirement 2. Start with the Allowance account's beginning credit balance ($20,000) and then post to the Allowance for Uncollectible Accounts T-account. How much of the receivables at December 31, 2020, does the company expect not to collect? (Leave any unused cells blank.) Allowance for Uncollectible Accounts 3 Using the T-account you prepared above, how much does the company expect not to collect at December 31, 2020? The company expects not to collect at December 31, 2020, $ Requirement 3. At December 31, 2020, what is the net realizable value of the company's accounts receivable? Spring Garden Plan's net realizable value of accounts receivable is $. 1 1 1 Journal entries Journal Entry Accounts Debit Credit 1. Accounts Receivable 1,090,000 Sales Revenue 1,090,000 2. | Cash 905,000 Accounts Receivable 905,000 3. Allowance for Uncollectible Accounts 19,000 Accounts Receivable 19,000 4. Bad Debt Expense 14,000 Allowance for Uncollectible Accounts 14,000 Print Done