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The Calvada Company makes all of its sales on account. For 2019. Calvada reported beginning balances in Accounts Receivable and Allowance for Uncollectible Accounts of

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The Calvada Company makes all of its sales on account. For 2019. Calvada reported beginning balances in Accounts Receivable and Allowance for Uncollectible Accounts of $220,000 and $14,000, respectively. Calvada wrote off accounts of $30,000 as uncollectible during the year, and the ending balance in Accounts Receivable was $260,000. Net sales for 2019 totaled $2,100,000 Required: A. Prepare the entry to record the uncollectible accounts expense for the year if Calvada estimates the expense as 2.5% of sales. B. Prepare the entry to record the uncollectible accounts expense for the year if Calvada estimates that 5% of outstanding gross receivables at the end of the year will not be collected. C. How much cash did Calvada collect from its customers in 2019? 4 THIS IS THE FORMAT TO USE 7 Part A Calvada Company General Journal Date Accounts Debit Credit 16 18 Part B Calvada Company General Journal Date Accounts Debit Credit 27 Part C

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