Perform the following accounting for the recelvables of Cavanaugh and Johnson, a law firm, at December 31,2021. Read the Requirements 1 and 2. Start with the beginning balances for these T-accounts: Accounts Receivable, $103,000, Allowance for Uncollectble Accounts, $13,000. Post the following 2021 transactions to the T-accounts: 3. Service tevenue of $699,000, all on account b. Collections on account, $718,000 c. Write-olfs of uncollectible acoounts, $12,000 d. Uncollectible-account expense (allowance method), 55,000. What are the efiding balances of Accounts Receivable and Allowance for Uncollocbble Accounts? Prepare the Teaccounts for accounts receivable and allowance for uncollectble accounts. (Abbreviation used: Beg bal = Beginning balanco; End bal = Ending baliance, Uncoll acct axp = Uncoliectible account expensa.) Requirements 1. Start with the beginning balances for these T-accounts: - Accounts Receivable, $103,000 - Allowance for Uncollectible Accounts, $13,000 Post the following 2021 transactions to the T-accounts: a. Service revenue of $699,000, all on account b. Collections on account, $718,000 c. Write-offs of uncollectible accounts, $12,000 d. Uncollectible-account expense (allowance method), $5,000 2. What are the ending balances of Accounts Receivable and Allowance for Uncollectible Accounts? 3. Show how Cavanaugh and Johnson will report accounts receivable on its balance sheet at December 31, 2021