Problem 7 (5 Points) Before year-end adjusting entries, Dunn Company's account balances a 2017, for accounts le and the related allowance for uncollectible accounts were respectively. An aging of accounts receivable indicated that 31 receivables are expected to be uncollectible. The net MUST show your work realizable value of accounts receivable after adjustment is, You to get credit. Problem 8 (5 Points) The following information is available for Murphy Company Allowance for doubtful accounts at December 31,2016 Credit sales during 2017 Accounts receivable deemed worthless and written off during 2017 $24,000 1,200,000 27,000 As a result of a review and aging of accounts receivable in early January 2018, it has been determined that an allowance for doubtful accounts of $16,000 is needed at December 31, 2017. Prepare the journal entry that Murphy should record as "bad debt expense" for the year ended December 31, 2017? You MUST show your work to get credit