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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, 2018 Allowance for Doubtful Accounts,

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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, 2018 Allowance for Doubtful Accounts, January 1, 2018 Sales on Account, 2018 Collections of Accounts Receivable, 2018 $ 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: 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 2018. (2) Net realizable value of receivables at the end of 2018 1. Uncollectible accounts expense 2. Net realizable value

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