5 3 Book QS 7-7 (Algo) Reporting allowance for doubtful accounts LO P2 On December 31 of Swift Company's first year, $60,000 of accounts receivable was not yet collected. Swift estimated that $3,000 of its accounts receivable was uncollectible and recorded the year-end adjusting entry. 1. Compute the realizable value of accounts receivable reported on Swift's year-end balance sheet. 2. On January 1 of Swift's second year, it writes off a customer's account for $400. Compute the realizable value of accounts receivable on January 1 after the write-off. Before Write-Off After Write-Off Realizable value of accounts receivable Hint