On April 30, Purple Mountain Party Planners had a $36,000 balance in Accounts Receivable and a $3,332 credit balance in Allowance for Uncollectible Accounts During May, Purple Mountain Party Planners made credit sales of $196,000. May collections on account were $162,000, and write-offs of uncollectible receivables totaled $2,870. Uncollectible-account expense is estimated as 3% of credit sales Requirements 1. Journalize sales, collections, write-offs of uncollectibles, and uncollectible-account expense by the allowance method during May. Explanations are not required 2. Show the ending balances in Accounts Receivable, Allowance for Uncollectible Accounts, and Net Accounts Receivable at May 31. How much does the store expect to collect? 3. Show how Purple Mountain Party Planners will report accounts receivable and net sales on its May 31 balance sheet and income statement for the month ended December 31