The following trial balance was prepared for Tile, Etcetera, Incorporated, on December 31 , Year 1, after the closing entries were posted. Tile, Etcetera had the following transactions in Year 2: 1. Purchased merchandise on account for $665,000. 2. Sold merchandise that cost $505,000 for $1,060,000 on account. 3. Sold for $330,000 cash merchandise that had cost $194,000. 4. Sold merchandise for $275,000 to credit card customers. The merchandise had cost $130,000. The credit card company charges a 3 percent fee. 5. Collected $790,000 cash from accounts receivable. 6. Paid $695,000 cash on accounts payable. 7. Paid $162,000 cash for selling and administrative expenses. 8. Collected cash for the full amount due from the credit card company (see item 4). 9. Loaned $67,000 to J. Parks. The note had an 6 percent interest rate and a one-year term to maturity. 10. Wrote off $9,200 of accounts as uncollectible. 11. Made the following adjusting entries: (a) Recorded uncollectible accounts expense estimated at 1 percent of sales on account. (b) Recorded seven months of accrued interest on the note at December 31 , Year 2 (see a. Prepare general journal entries for these transactions, and post the entries to T-accounts. Also, prepare an income statement, a statement of changes in stockholders' equity, a balance sheet, and a statement of cash flows for Year 2. b. Compute the net realizable value of accounts receivable at December 31, Year 2. c. If Tile, Etcetera used the direct write-off method, what amount of uncollectible accounts expense would it report on the income statement? Complete this question by entering your answers in the tabs below