Receivables Company Due: March 11, 2020 Allowance Method (GAAP/income Statement Method/Balance Sheet Method) EOP Adjusting Entry: Write-off of specific account (do not use the Direct Write-off Method - not GAAP): Income Statement Method (percentage of sales) UAB Blazer Co. has the following unadjusted account balances at year end: Cash Accounts receivable Allowance for uncollectable accounts Sales on credit $170,000 200,000 4,000 1,000,000 If the company expects its bad debts to average 2% of credit sales, what adjusting entry would it make? What is the detailed version of what we would see on its balance sheet? Balance Sheet Method (Percentage of receivables) Assume that 6% of accounts receivable are uncollectible. What adjusting entry would it make? What is the detailed version of what we would see on its balance sheet