Part 1: 1. Accounts receivable has a $275,000 balance at December 31, 2019. Management estimates that the uncollectible accounts are a total of $15,000. What is the net realizable value of the accounts receivable? 260,000 2. (a). Use the following information to determine the adjustment to the Allowance for Doubtful Accounts assuming the company uses the percentage of accounts receivable to determine bad debt. Show how it impacts the accounting equation account name and amount): Accounts receivable $500,000 Allowance for doubtful accounts before adjustment % expected uncollectible of net credit sales 2% (.02) Net credit sales $5,350,000 Assets Liabilities Equity (b). What is the ending balance of Allowance for Doubtful Accounts after the above transaction is recorded? (c) What is the Net Realizable Value of Accounts Receivable after the above transaction is recorded? Part 2 A company just starting business in June has made 4 inventory purchases. A physical count of merchandise inventory at June 30 reveals that there are 200 units on hand. Units Cost per unit Total Cost June 1 150 $5.20 $780 June 10 200 $5.85 $1,170 June 15 200 $6.30 $1,260 June 28 150 $6.60 $990 Total available 700 $4,200 4. Using the First In-First Out (FIFO) inventory cost flow method, what is the amount allocated to ending inventory and cost of goods sold? 4(a) Ending Inventory 4(b) Cost of Goods Sold 5. Using the weighted average inventory cost flow method, what is the amount allocated to ending inventory and cost of goods sold? Please round your calculated weighted average cost per unit to 2 decimals (example - $18.79) Average Cost per unit 5(a) Ending Inventory 5(b) Cost of Goods Sold