Raintree Cosmetic Company sells its products to customers on a credit basis. An adjusting entry for bad debt expense is recorded only at December 31, the companys fiscal year-end. The 2023 balance sheet disclosed the following:

Current assets:
Receivables, net of allowance for uncollectible accounts of $30,000	$432,000

During 2024, credit sales were $1,750,000, cash collections from customers $1,830,000, and $35,000 in accounts receivable were written off. In addition, $3,000 was collected from a customer whose account was written off in 2023. An aging of accounts receivable at December 31, 2024, reveals the following:

Age Group	Percentage of Year-End Receivables in Group	Percent Uncollectible
060 days	65%	4%
6190 days	20	15
91120 days	10	25
Over 120 days	5	40

Required:

1. Prepare summary journal entries to account for the 2024 write-offs and the collection of the receivable previously written off.

Prepare the year-end adjusting entry for bad debts according to each of the following situations:

• Bad debt expense is estimated to be 3% of credit sales for the year.
• Bad debt expense is estimated by adjusting the allowance for uncollectible accounts to the balance that reduces the carrying value of accounts receivable to the amount of cash expected to be collected. The allowance for uncollectible accounts is estimated to be 10% of the year-end balance in accounts receivable.

Bad debt expense is estimated by adjusting the allowance for uncollectible accounts to the balance that reduces the carrying value of accounts receivable to the amount of cash expected to be collected. The allowance for uncollectible accounts is determined by an aging of accounts receivable.

1. For situations (a)(c) in requirement 2 above, what would be the net amount of accounts receivable reported in the 2024 balance sheet?