Problem #10 for Accounts Receivable a) Percentage of Sales method XYZ Company has the following beginning and ending balances for A/R and the Allowance January 1 December 31 Accounts Receivable Allowance for Doubtful Accounts $135,000 $133,000 ($6,000) ($5,800) The company had sales for the year of $900,000, all of which were credit sales. The company estimates of 1% of sales will not be collected. During the year Deadbeat Buxton came into your store and paid you the $1,000 he owed you from three years ago, you had previously written off that account. 1) Calculate the amount of Bad Debt Expense for the year and make the journal entry 2) Make the journal entry (or entries) for when Deadbeat Buxton came into store and paid you 3) Calculate the amount of accounts which were written off during the year and make the journal entry for that. 4) Calculate the amount of Cash collected from customers (not counting Deadbeat Buxton) for the year and make the journal entry for that. 5) Calculate the net realizable value of Accounts Receivable for the end of the year