Part IV: Allowance for Doubtful Accounts (12 points) On December 31, 2022, the trial balance of Barlow Company has the following accounts before adjustment. Accounts receivable Debit $430,000 Allowance for doubtful accounts Credit $1,800 The company estimates its bad debt expense based on 5% of accounts receivable. 1. Write the adjusting entry on December 31, 2022 to recognize bad debt expense. (4 points) Account Titles Debit Credit 2. What was the net realizable value of accounts receivable reported on its balance sheet as of December 31, 2022? (2 points) 3. On March 25, 2023, Barlow Company determined that John Jefferson's account was uncollectible and wrote off $3,000. Record the journal entry for the write-off. (2 points) Account Titles Debit Credit 4. On April 11, 2023, John Jefferson paid the amount previously written off. Prepare the journal entries for the recovery. (4 points) Account Titles Debit Credit