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. Martinez Company's unadjusted trial balance at December 31, 2017, included the following accounts. Accounts receivable 55,100 Allowance for doubtful accounts 5,610 1,229,500 Martinez Company estimates uncollectible accounts to be 7% of gross accounts receivable. Determine its bad debt expense for 2017 Bad debt expense for 2017 2. An analysis and aging of Sandhill Corp. accounts receivable at December 31, 2017, disclosed the following Amounts estimated to be uncollectible Accounts receivable Allowance for doubtful accounts (per books) 184,260 1,795,700 27,610 What is the net realizable value of Sandhill's receivables at December 31, 2017? The net realizable value 3, Teal Co. provides for doubtful accounts based on 3% 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 $2,185,300 58,230 17,920 970 credit was reestablished) Customer accounts written off as uncollectible during 2017 0,680 What is the balance in Allowance for Doubtful Accounts at December 31, 2017? The balance in Allowance for Doubtful Accounts