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a. What amount of bad debts expense does Sunil report on its annual income statement? $ b. Show how accounts receivable and the allowance for uncollectible accounts are reported in its December 31 balance sheet. Note: Do not use negative signs with your answers. c. Report the increase in bad debt expense calculated in part a using the financial statement effects template. Note: Use negative signs with your answers, when appropriate. Analyzing and Reporting Receivable Transactions and Uncollectible Accounts (Using Percentage-of-Sales Method) At the beginning of the year, Penman Company had the following (normal) account balances in its financial records: During the year, its credit sales were $586,500 and collections on credit sales were $575,000. The following additional transactions occurred Do not use negative signs with your answers. Enter as whole numbers. a. What amount of bad debts expense does Sunil report on its annual income statement? $ b. Show how accounts receivable and the allowance for uncollectible accounts are reported in its December 31 balance sheet. Note: Do not use negative signs with your answers. c. Report the increase in bad debt expense calculated in part a using the financial statement effects template. Note: Use negative signs with your answers, when appropriate. Analyzing and Reporting Receivable Transactions and Uncollectible Accounts (Using Percentage-of-Sales Method) At the beginning of the year, Penman Company had the following (normal) account balances in its financial records: During the year, its credit sales were $586,500 and collections on credit sales were $575,000. The following additional transactions occurred Do not use negative signs with your answers. Enter as whole numbers

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