Patterson's Commercial Metals, Inc. Financial Data for 2019 Beginning Accounts Receivable Ending Accounts Receivable Sales (assume all sales are credit) % sales estimated uncollectible $56,000 $68,000 $195,000 5% Beginning balance in the Allowance for Uncollectible Accounts- $223 (credit balance) The ending Accounts Receivable are aged (with the corresponding uncollectible % ) accordingly: 1-30 days $36,000 31-60 days $22,000 61-90 days $7,500 91+ days 1.75% 4.8% 11.3% 39% $2,500 $68,000 Part A: Use the percentage of sales approach. 1.) Prepare the necessary adjusting entry for the end of 2019. 2.) Determine the ending balance in Allowance for Uncollectible Accounts. 3.) And the Net Realizable value of Patterson's receivables for 2019. 4.) Calculate receivables turnover ratio and days sales to collect for 2019. Part B: Do it all over again using the aging of receivables approach