QUESTION 1 Carl's Collectibles estimates its uncollectible accounts by aging its accounts receivable and applying percentages to various aged categories of accounts. Carl's computes a total of $8,120 in estimated losses as of December 31, 2021. Its Accounts Receivable account has a balance of $250,000 and its Allowance for Uncollectible Accounts has a balance of $1,625 before adjustment at December 31, 2021. How much bad debt expense will Carl's Collectibles report in 2021? $6,495 $8,120 $9,745 $1,625 QUESTION 2 At what amount will net accounts receivable be reported on the balance sheet if the gross receivable balance is $100,000 and the allowance for uncollectible accounts is estimated at 6% of gross receivables? $100,000 $106,000 $60,000 $94,000 QUESTION 3 Mathew's Marble, a national supplier of marble products, has enjoyed several years of strong earnings during the recent housing boom. However, economists believe construction spending will be down significantly over the next couple of years, and Matthew's Marble's is already having more difficulty collecting receivables from its customers. Mathew's Marble has decided to decrease its allowance for uncollectible accounts estimate from 3.5% to 2% of receivables. How will this change affect current and future income respecitvely, assuming up to this point Marble's uncollectible accounts estimates were accurate? Increase; Increase Increase; Decrease Decrease; Decrease Decrease; Increase