On February 28, Big White Ski Equipment had a $27,000 debit balance in Accounts Receivable. During March, the company had sales of $76,100, which included $70,000 in credit sales. March collections were $67,000, and write-offs of uncollectible receivables totalled $1,550. Other data include: a. February 28 credit balance in Allowance for Doubtful Account was $1,750. b. Bad debt expense was estimated as 5 percent of credit sales. Required 1. Prepare journal entries to record sales, collections, write-offs of uncollectibles during March, and bad debt expense by the allowance method (using the percent-of-sales method). 2. Prepare T-accounts to show the ending balances in Accounts Receivable and Allowance for Doubtful Accounts. Compute net Accounts Receivable at March 31. How much does Big White expect to collect? Requirement 1. Prepare journal entries to record sales, collections, write-offs of uncollectibles during March, and bad debt expense by the allowance method (using the percent-of-sales method). Start by entering the journal entry for the sales recorded in March. (Record debits first, then credits. Explanations are not required.) Date Mar. 31 Journal Entry Accounts Debit Credit