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The following information is available for Quality Book Sales's sales on account and accounts receivable: Accounts Receivable Balance, January 1, Year 2 Allowance for Doubtful

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The following information is available for Quality Book Sales's sales on account and accounts receivable: Accounts Receivable Balance, January 1, Year 2 Allowance for Doubtful Accounts, January 1, Year 2 Sales on Account, Year 2 Collections of Accounts Receivable, Year 2 $ 78,500 4,710 550,000 556,000 After several collection attempts. Quality Book Sales wrote off $2,850 of accounts that could not be collected. Quality Book Sales estimates that 0.5 percent of sales on account will be uncollectible. Required a. Compute the following amounts: (1) Using the allowance method, the amount of uncollectible accounts expense for Year 2. (2) Net realizable value of receivables at the end of Year 2. 1 Uncollectible accounts expense Net realizable value 2 b. Why is the uncollectible accounts expense amount different from the amount that was written off as uncollectible

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