Pogo Corporation sells merchandise only on credit. For the year ended December 31, 2018, the following data is available: Sales $3,430,000 Accounts receivable, 1/1/18 270,000 (DR) Allowance for doubtful accounts, 1/1/18 28,000 (CR) Collections of accounts receivable in 2018 3,510,000 Accounts written off as uncollectible in 2018 25,000 1. What is Pogo's balance in the Accounts Receivable account at December 31, 2018? 2. What entry should Pogo make to writeoff the $25,000 of uncollectible accounts during 2018? (One aggregate entry) 3. What is Pogo's balance in the Allowance for Doubtful Accounts at December 31, 2018 before any adjustments, but after the writeoffs? 4. If Pogo ages its accounts receivable and, based on this analysis, estimates that $30,000 of the December 31, 2018 accounts receivable will ultimately be uncollectible, what adjusting journal entry should Pogo make on December 31, 2018? 5. How would the accounts receivable allowance for doubtful accounts be reported on the balance sheet of Pogo Corporation at December 31, 2018? 6. Separate from the items above, if Pogo receives payment from a customer whose account receivable of $4,000 was previously written off, what journal entries must Pogo make to record this transaction? Assignment - Chap 8 (continued) 7. Tripod Corp. sold some tripods to a customer, Dual Company, on November 1, 2018 for $24,000 and Tripod debited Accounts Receivable and credited Sales Revenue. Due to short-term cash flow issues, Dual requested an extension of time to pay, Tripod agreed. Pursuant to the agreement, Dual gave Tripod an 8%, 3-month promissory note with a face amount of $24,000 on December 1, 2018. Prepare three journal entries for the following: a. Record sale of the tripods by Tripod on November 1, 2018, b. Record the receipt of the note receivable by Tripod on December 1, 2018, c. Make the adjusting entry necessary at December 31, 2018