Allowance Method Journalize the following transactions, using the allowance method of accounting for uncollectible receivables: Oct. 2. Received $1,140 from Elita Ramirez and wrote off the remainder owed of $2,570 as uncollectible. If an amount box does not require an entry, leave it blank. Oct. 2 Dec. 20. Reinstated the account of Elita Ramirez and received $2,570 cash in full payment. If an amount box does not require an entry, leave it blank. Reinstate Collection Il Percent of Sales Method At the end of the current year, Accounts Receivable has a balance of $4,770,000, Allowance for Doubtful Accounts has a debit balance of $17,230, and sales for the year total $63,800,000. Bad Debt Expense is estimated at 34 of 1% of sales. a. Determine the amount of the adjusting entry for uncollectible accounts. $ b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Adjusted Balance Debit (Credit) Accounts Receivable Allowance for Doubtful Accounts $ Bad Debt Expense c. Determine the net realizable value of accounts receivable