Problem 1: Computing and Reporting Accounts Receivable Champion Inc. reported accounts receivable of $20.0 million at the end of its 2017 fiscal year. This amount was net of an allowance for doubtful accounts of $1,500,000 During 2018, Champion Inc. sold $67.5 million of merchandise on credit. It collected $46.9 million from customers. Accounts valued at $1,080,000 were written off as uncollectible during 2018. Hampden's management estimates that 10% of the year-end (2018) Accounts Receivable balance will be uncollectible. Note: Use minus (-) for negative numbers! ! Required A. What amount will Champion report for accounts receivable and the allowance for doubtful accounts at the end of 2018? Show detailed computations in the space provided below. Accounts receivable Gross, 1/1/18 ($??,???,??? + $?,???,???) Description of Transaction here Description of Transaction here Description of Transaction here Accounts receivable balance, 12/31/18 Stay within the boarders Do not forget Description Very Important Ending balance in allowance for doubtful accounts according to management's estimate B. What is the Doubtful Accounts Expense for 2018? Allowance for doubtful accounts, beginning of 2018 Description of Transaction here Amount Required end of 2018 Doubtful accounts expense for 2018 Do not forget Description C. How will the accounts receivable and allowance accounts be presented on the balance sheet? List below the accounts and amounts for the balance sheet section for accounts receivable. Account title here Account title here Account title here Do not forget Description