Question 2 Partially correct Mark 0.67 out of 2001 Pag question Support Dashboard Wlook Analyzing and Reporting Receivable Transactions and Uncollectible Accounts Using Percentage-of-Sales Method to Estimate Bad Debt Expense At the beginning of the year, Penman Company had the following account balances Accounts receivable $320.400 Allowance for uncollectible accounts 19.260 During the year, Penman's credit sales were $1,807,200, and collections on accounts receivable were $1,766,700. The following additional transactions occurred during the year Feb, 17 Wrote off Bava's account, $7,380. May 28 Wrote off Reed's account, $4.320. Dec. 15 Wrote off Fischer's account, $2.070 Dec 31 Recorded the bad debts expense assuming Penman's policy is to record bad debts expense as 0.9% of credit sales. (Hint: The allowance account is increased by 0.9% of credit sales regardless of write-offs.) Compute the ending balances in accounts receivable and the allowance for uncollectible accounts and show how Penman's December 31 balance sheet reports the two accounts Note: Round your answers to the nearest whole dollar. Note: Do not use a negative sign with your answers Current As Accounts receivable alwance for uncollectible accounts Sany $ 347,130