Question 2:(10 points) The following independent situations occurred at Ali's company during 2011: The allowance for uncollectible accounts has a $700 credit balance. Net credit sales during the year are S21 6,000. a. Management estimates that 4% of net credit sales will be uncollectible. b. Assume the Ali' accounts for the period. uncollectible accounts have the following balances, $5,680 and $580 respectively. The following table shows the names, the amounts due from the customer, and the percentages of the expected uncollectible amounts from those customers. Customer name Three month Six months s company applies the aging method to estimate the allowance for uncollectible Before year-end adjustments, accounts receivable and allowance for Total balance Over six months Rasheed Sarah Fareed Estimated percentage uncollectible $1,850 2,940 3,480 8270 $1,850 $2,940 $3.480 25% 2% 5% The allowance for uncollectible accounts has an $800 credit balance. the year are $229,000. Management has determined that 3.5% of net credit sales will be uncollectible. The company uses the direct write off method to recognize the uncollectible account expense c. Net credit sales during Required Prepare journal entries to record the estimated uncollectible accounts expense for the independent situations