The following information relates to a company's accounts receivable: gross accounts receivable balance at the beginning of the year, $320,000; allowance for uncollectible accounts at the beginning of the year, $21,000 (credit balance); credit sales during the year, $1,050,000; accounts receivable written off during the year, $12,000; cash collections from customers. $950,000. Assuming the company estimates that future bad debts will equal 9% of the year-end balance in accounts receivable. 1. Calculate bad debt expense for the year. 2. Calculate the year-end balance in the allowance for uncollectible accounts. 1. Bad debt expense 2. Ending balance $ 21,000 $ 30,000