The accounts of Polaris Company provided the following 205 information at 31 December 205 : Investigation showed the following a. Examination of an aging of accounts recelvable showed that accounts of $107,500 previously provided for should be written off. Of the remaining balance, $730,000 was doubtful at yeat-end. b. Estimated sales discounts inherent in the closing accounts recelvable balance were $17,900. Terms of 1/10, n/45 were granted to customers. Accounts receivable were recorded gross, and the discounts taken were recorded when taken by the customers in a discounts account, reported contra to the sales account. Required: 1. Prepare year-end adjusting entries with respect to accounts recelvable and the related allowances. (If no entry is required for o transaction/event, select "No journal entry required" in the first account field.) Record the entry for Uncollectible accounts being written-off. Note: Enter debits before credits. 2. Calculate the net accounts recelvable appear on the statement of financial position on 31 December 205