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Use the following information for the next 2 questions. Normal balances for some of Jones Company's December 31st, Year 1 as follows: Account Accounts receivable

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Use the following information for the next 2 questions. Normal balances for some of Jones Company's December 31st, Year 1 as follows: Account Accounts receivable Allowance for doubtful (uncollectible) accounts 12/31/Year 1 $95,300 $4,700 During Year 2, sales on account were $513,000 and collections on account were $496,000. Also during Year 2, Jones Company wrote off $2,000 in uncollectible accounts. An analysis of outstanding accounts at year end indicates the Allowance for Doubtful Accounts should be $6,300. 1. The balance in Accounts Receivable on 12/31/Year 2 is: O $112,300 O $110,300 O $114,300 O $80,300 O $76,300 2. Uncollectible Accounts (or Bad Debts) expense for Year 2 is: O $2,000 O $400 O $3,600 O $4,300 O $6,300

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