2. Using the information from the previous question, and assuming A/R is $525,000 and the allowance for Bad Debt has a beginning credit balance of $7,600, what is net A/R ? ( 2 points) 3. Assume that SchwagMart uses the Percent of A/R method instead. Historically, 6.2% proves to be uncollectible. What would be the adjusting entry using the A/R and allowance amounts from question 2? (2 points) 1. SchwagMart uses the Percent of Credit Sales method to compute its Allowance for Bad Debt. If credit sales are $1,600,000 for the period and historically 1.75% of those sales prove uncollectible, what would be the adjusting entry? ( 2 points) 4. Using the information from the previous two questions, what would be net A/R ? (2 points)