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The ABC Company has just completed its fourth year of operations. Sales have tripled since in three years and ABC's management has asked you to evaluate its method of accounting for uncollectible accounts. The following information is provided you. ABC generally writes-off uncollected accounts by the time they are 13 months past due. Sales: Year 1: $1,000,000 Year 2: $1, 500,000 Year 3: $2,000,000 Year 4: $2, 200,000 Assume that the direct write-off method is used. Give the journal entries for Year 1, Year 2 and Year 3 to recognize uncollectible accounts expense. Assume that the allowance method is used. b. Give the journal entries for Year 1, Year 2, and Year 3 to recognize uncollectible accounts expense assuming uncollectible accounts are estimated to be 1 1/2% of sales. c. What would be the balance in the Allowance account at the end of Year 1, Year 2, and Year 3? Suppose ABC Company uses the balance sheet approach to recognizing bad debt expense based on a year end accounts receivable ageing schedule. The ageing schedule as of 12/31/16 indicates that $88,000 in accounts receivable are estimated to become uncollectible. The allowance for doubtful accounts shows an unadjusted $1,000 debit balance immediately before the year end adjusting for bad debt expense. The 12/31/16 gross accounts receivable balance is $850,000 a. Provide the 12/31/16 adjusting entry to record estimated bad debt expense b. Indicate the 12/31/16 net realizable value of accounts receivable