Question 1 The account balances of Ivanhoe Company at December 31, 2017, the end of the current year, show Accounts Receivable $187,200, Allowance for Doubtful Accounts $2,288 (credit); Sales $1,476,000; Sales Returns and Allowances $52.000; and Sales Discounts $20,800. Record the adjusting entry at December 31, 2017, assuming bad debts are estimated to be (1) 10% of accounts receivable, and (2) 1.50% of net sales. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter o for the amounts. Round answers to decimal places, 2.275) No. Date Account Tities and Explanation Debit Credit (1) Dec. 31 (2) Dec. 31 decimal places, e.. Calculate the net reakable value of the accounts receivable for each approach to estimating uncolectible accounts in part (a) above. (Hound answers to (1) Net realizable value (2) Net realizable value AA A 4 ENG 7:30 AM 2020-03-23 Calculate the net realizable value of the accounts receivable for each approach to estimating uncollectible accounts in part (a) above. (Round answers to o decimal places, .. 2,275.) (1) Net realizable value (2) Net realizable value Assume instead that the Allowance for Doubtful Accounts had a debit balance of $2,704 at December 31, 2017. What is bad debt expense for 2017, and what is the net realizable value of the accounts receive at December 31, 2017, assuming bad debts are estimated to be (1) 10% of accounts receivable, and (2) 1.50% of net sales? (Round answers to o (2) Baddebits expense