The following Information relates to a company's accounts receivable: gross 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 that future bad debts will equal 10% 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. Answer is complete but not entirely correct. 1. Bad debt expense $185,000 2. Ending balance $ 46,000 ( Prev 7 of 8 Next >>