On November 30, 2020, White Top Party Planners (WTPP) had a $44,000 balance in Accounts Receivable and a $3,500 crede balance in Allowance for Uncollectible Accounts, During December, WTPP made credit sales of $60,000 December colections on account were $57.000, write offs of uncollectible receivables totaled $2,100, and an account of $1,000 was recovered. Bad debt expense is estimated to be 58.000 Requirements 1. Determining bad debt expense by using the allowance method is management's estimate of uncollectible accounts and not an accurate measurement. Why not wait until a company finds out which customers can't pay and write the accounts receivable off as they occur? 2. the allowance method is not used to estimate uncollectible accounts, what effect would this have on accounts receivable (balance sheet) and bad debt expense (income statementy? Requirement 1. Determining bad dete expense by using the allowance method is management's estimate of uncollectible accounts and not an accurate measurement. Why not wait until a company finds out which customers can't pay and write the accounts receivable off as they occur? account is reported at the amount the company expects to collect, which is the most relevant and faithful representation of are properly recognized in the period in which they were that is in the same period in which the related sales took place By using the allowance method, the sheet dat Also, as of the balance Requirement 2. If the allowance method is not used to estimate uncollectible accounts, what effect would this have on accounts receivable (balance sheet) and bad debt expense (income statement)? (Leave any unused cells blank) Calculate the company's balance of accounts receivable by entering the beginning balance and the adjusting entries in the following T-account. Post the beginning balance fest and then post the adjustments Accounts Receivable What balance of accounts receivable does WTPP report? 1 What amount of bad debt expense would be reported?