-ntain viruses. Unless you need to edit it's safer to stay in Protected View. Enable Editing QUESTION (Z Marko You are in the process of preparing Tho joumal entries for Sallwork Services. Total Balas revenue Information for the year Included credit sales of $270,000 and cash sales of $30,000. Sallwork Services uses the allowance method to measure bad debts. Collections on account during the year were $260,000 and $500 of specific accounts receivablo were identified as never being collectible as the customer had filed for bankruptcy. Sallwork began the current year with an account receivable debit balance of 530,500 and an allowance for doubtful accounts debit balance of $100. The accounts receivable sub-ledger reveals the following aging at the end of the year. Aged Accounts Receivable 0-30 days 31-60 days 61-90 days >90 days Total A/R subtotals $17,000 $4,000 $2,400 $16,600 $40,000 Estimated % uncollectible 1% 2% 8% 40% 1) Record the following journal entries for the year (explanations are not required): a) All sales for the year (1 Mark) (1 Mark) b) Collection of account receivables c) Bad debt expense using the percent of sales method based on 2.5% of credit sales were uncollectable (2 Marks) d) Bad debt expense assuming the aging-of-receivables method was used instead of the percent of sales method (2 Marks) (1 Mark) e A/R from High Risk Corporation in the amount of $50 is determined not to be collectible