See Patriots Corp. question setup. What is the balance in the allowance for uncollectible accounts at 12/31/Year3 (before any adjusting entries)? $400 debit (abnormal) $400 credit (normal) $2,400 credit (normal) $2,800 debit (abnormal) none of the above Pedroia Inc. has the following balances before doing adjusting entries for the year ended 12/31/Year4. All sales were on credit. The allowance has a DEBIT (abnormal) balance. Assume that Pedroia Inc. uses the percentage of credit sales method, and estimates that 1 % of credit sales will prove to be uncollectible. What is bad debt expense on the income statement for the year ended 12/31/Year4? 5,000 debit 4,100 debit 6,000 debit 5,900 debit Use the following facts for this problem and the next problem. Ortiz Inc. has the following balances before doing adjusting entries for the year ended 12/31/Year6. All sales were on credit (and were recorded earlier in the period.). The allowance has a normal (credit) balance. Assume Ortiz Inc. uses the % of accounts receivable method and estimates that 4% of accounts receivable will be uncollectible. What will Ortiz Inc. report as bad debt expense for on the income statement for the year ended 12/31/Year6? 3,100 4,000 24,000 4,900 Assume Ortiz Inc. uses the % of accounts receivable method and estimates that 4% of accounts receivable will be uncollectible. What will Ortiz Inc. report as the balance of the allowance for uncollectible accounts on the published balance sheet as of 12/31/Year6? 4,900 4,000 3,100 5,100