Problem 7-2 Presented below are a series of unrelated situations. Answer the questions relating to each of the five independent situations as requested 1. Halen Company's unadjusted trial balance at December 31, 2017, included the following accounts. Debit Credit $53,000 Accounts receivable Allowance for doubtful accounts Net sales $4,000 $1,200,000 Halen Company estimates uncollectible accounts to be 7% of gross accounts receivable. Determine its bad debt expense for 2017. Bad debt expense for 2017 s 2. An analysis and aging of Stuart Corp. accounts receivable at December 31, 2017, disclosed the following. 180,000 1,750,000 125,000 Amounts estimated to be uncollectible Allowance for doubtful accounts (per books) What is the net realizable value of Stuart's receivables at December 31, 2017? The net realizable value 3. Shore Co. provides for doubtful accounts based on 4% of gross accounts receivable, The following data are available for 2017. Credit sales during 2017 Bad debt expense Allowance for doubtful accounts 1/1/17 Collection of accounts written off in prior years (customer credit was reestablished) Customer accounts written off as uncollectible during 2017 $4,400,000 57,000 17,000 8,000 30,000 What is the balance in Allowance for Doubtful Accounts at December 31, 2017? The balance in Allowance for Doubtful Accounts