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 company's fiscal year-end. The 2023 balance sheet disclosed the following Current assetat Recelyables, net of allowance for uncollectible accounts of $37,000 During 2024 , credit sales were $1,785,000, cash collections from customers $1,865,000, and $42,000 in accounts receivable were written off, In addition, $3,700 was collected from a customer whose account was witten off in 2023 . An aging of accounts receivable at December 31,2024 , reveals the following: Required: 1. Prepare summary journal entries to account for the 2024 write-olfs and the collection of the receivable previously whitten off. 2. Prepare the year-end adjusting entry for bad debts according to each of the following stuations: a. Bad debt expense is estimated to be 25 of credit soles for the yeaf b. Bad cebt 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 uncolfectible accounts is estimated to be 10t of the yeocend balance in accounts teceivable c. Bad debt expense is estimated by adjusting the allowance for uncollectible accounts to the osiance that recucce the carrying value of accoints recelvable to the amount of cash expected to be collected The allowance for uncollectiole