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The following information is avallable for Quality Book Sales' sales on account and accounts recelvable: After several collection attempts, Quality Book Sales's wrote off $2,520

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The following information is avallable for Quality Book Sales' sales on account and accounts recelvable: After several collection attempts, Quality Book Sales's wrote off $2,520 of accounts that coul be collected. Quality Book Sales estimates that 1.00 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 Note: Round your final answer to nearest whole dollar amount. (2) The net realizable value of receivables at the end of Year 2 . Note: Round your intermediate calculations and final answer to nearest whole dollar amount. b. Why is the uncoliectible accounts expense amount different from the amount that was writte as uncollectible? Uncollectible accounts expense is the actual amount that was determined in the curr accounting period to be uncollectible. Uncollectible accounts expense is an estimate of current recelvables that may eventually be uncollectible

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