Question 12 (Mandatory) (6 points) At the end of the current year, Accounts Receivable has a balance of $600,000; Allowance for Doubtful Accounts has a credit balance of $3,500; and net sales for the year total $3,000,000. Bad debt expense is estimated at 1/2 of 1% of net sales. Determine (a) the amount of the adjusting entry for uncollectible accounts; (b) the adjusted balances of Accounts Receivable. Allowance of Doubtful Accounts: and Bad Debt Expense; and (c) the net realizable value of accounts receivable. Add DOEN Question 2 (Mandatory) (4 points) Matthews Corporation warrants its products for two years. The estimated product warranty is 5% of sa Assume that sales were $2,500,000 for 2011. In May of 2012. a customer received warranty repairs requiring $1,185 of parts and $250 of labor. (4 points) Required: (1) Journalize the adjusting entry required at December 31, 2011 to record the accrued product warranty. Journalize the entry to record the warranty work provided in May of 2012. DooD