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Question 1: The following information relates to a company's accounts receivable: account receivable balance at...

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Question 1: The following information relates to a company's accounts receivable: account receivable balance at the beginning of the year, $150,000; allowance for uncollectible accounts at the beginning of the year, $10,000 (credit balance); credit sales during the year, $90,000; accounts receivables written off during the year $4,000; cash collections from the customers, $100,000. After a review of the uncollectible accounts, the company estimates that the required year-end balance for the uncollectible accounts should be $3,000. Calculate 1. The bad debts expenses for the year (1 mark) 2. The year- end gross \& net account receivables balances. (1 mark)

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