The bookkeeper of Vital Inc. has asked you to assist him with the preparation of information about the company's accounts receivable for presentation in the statement of financial position at December 31, 2018, the end of the company's fiscal year. The following details have been extracted from the company's files: Debit $500,000 Credit Accounts receivable, January 1, 2018 Allowance for doubtful accounts, January 1, 2018 $25,000 Sales for 2018 totalled $1,300,000; $300,000 were in cash and the rest on account. The company collected $1,100,000 from credit customers during 2018 and wrote off $30,000 of accounts receivable as uncollectible. Required: 1. Determine the balance of accounts receivable at December 31, 2018. Ending balance of accounts receivable at 6 percent of the ending worla the write-off of carreverse, esele 2. Vital estimates that 6 percent of the ending balance of its accounts receivable may not be collected in the future. Prepare the journal entries to record the write-off of accounts receivable and the bad debt expense for 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the write-off of accounts receivable as uncollectible Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal 3. Show how the information related to accounts receivable is presented on the company's statement of financial position as at December 31, 2018 VITAL INC. Partial Statement of Financial Position As at December 31, 2018 Current assets Net