value: 10.00 points The following information is available for Quality Book Sales sales on account and accounts receivable: Accounts receivable balance, January 1, 2016 $ 79,500 Allowance for doubtful accounts, January 1, 2016 4,910 Sales on account, 2016 560,000 Collection on accounts receivable, 2016 566,000 After several collection attempts, Quality Book Sales wrote off $2,960 of accounts that could not be collected. Quality Book Sales estimates that 5 percent of the ending accounts receivable balance will be uncollectible. Required: a. Compute the following amounts: (1) Using the allowance method, the amount of uncollectible accounts expense for 2016. (2) Net realizable value of receivables at the end of 2016. b. Record the general journal entries to: (1) Record sales on account for 2016. (2) Record cash collections from accounts receivable for 2016. (3) Write off the accounts that are not collectible. (4) Record the estimated uncollectible accounts expense for 2016. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) ReferenceseBook & Resources General JournalDifficulty: 2 MediumLearning Objective: 07-02 Use the percent of receivables method to account for uncollectible accounts expense. Check my work