Use the following information for the following 4 questions. On December 31 , the Tom, Inc. general ledger contained the following balances: Aging of the accounts receivable balance on December 31 indicated the following: Assume that the company estimates bad debt to be 2% of net credit sales instead of using the balance sheet method. Calculate the proper amount of bad debt expense to be reported on the income statement for the year ending December 31 st. Show all work. What is the net realizable value of accounts receivable on the December 31 balance sheet assuming that the company uses the aging of accounts receivable method? Show all work Edit Use the following information for the following 4 questions. On December 31 , the Tom, Inc. general ledger contained the following balances: Aging of the accounts receivable balance on December 31 indicated the following: Assume that the company estimates bad debt to be 2% of net credit sales instead of using the balance sheet method. Calculate the proper amount of bad debt expense to be reported on the income statement for the year ending December 31 st. Show all work. What is the net realizable value of accounts receivable on the December 31 balance sheet assuming that the company uses the aging of accounts receivable method? Show all work Edit