The following information relates to a company's accounts receivable: accounts receivable balance at the beginning of the year, $480,000; allowance for uncollectible accounts at the beginning of the year, $37,000 (credit balance); credit sales during the year, $1, 850,000; accounts receivable written off during the year, $28,000; cash collections from customers, $2,000,000. Assuming the company estimates bad debts at an amount equal to 2% of credit sales. 1. Calculate bad debt expense for the year. 2. Calculate the year-end balance in the allowance for uncollectible accounts