The percentage of receivables approach to estimating bad debts expense is used by Crane Company On February 28 (the fiscal yearend), the firm had accounts receivable in the amount of $592,000 and Allowance for Doubtful Accounts had a credit balance of $5,350 before adjustment. Net credeales for February amounted to $3,550,000. The credit manager estimated that uncollectible accounts would amount to 7% of accounts receivable. On March 10, an accounts receivable from Mark Dole for $2,300 was determined to be uncollectible and written oft However, on March 31 Dole received an Inheritance and immediately paid his past due account in full Prepare the journal entries made by Crane Company on the below dates: (Credit account titles are automatically indented when the amount is entered Do not indent manually. Record journal entries in the order presented in the woblem.) 1. February 28 2: March 10 3 March 31 Date Account Titles and Explanation Debit Credit (To reinstate an account previously written off) (To record collection of payment) Ammend other transactions occurred that affected the allowance account during March Determine the balance of Allowance for Doubtful Balance of Allowance for Doubtful Accounts at March 31 S MacBook Air