CHAPTER 5 Homework Help Save & Exit Subm 2 Exercise 5-7 Accounting for uncollectible accounts: Percent of revenue allowance method LO 5-1 Joey's Bike Shop sells new and used bicycle parts. Although a majority of its sales are cash sales, it makes a significant amount of credit sales. During 2018, its first year of operations, Joey's Bike Shop experienced the following: 0.66 points $274,700 617,200 260,965 1,408 Uncollectible accounts charged off during the year Required sales on account will not be collected. Answer the following questions: a. What is the Accounts Receivable balance at December 31, 2018? ReferencesAssume that Joey's Bike Shop uses the allowance method of accounting for uncollectible accounts and estimates that 1 percent of its b. What is the ending balance of Allowance for Doubtful Accounts at December 31, 2018, after all entries and adjusting entries are posted? c. What is the amount of uncollectible accounts expense for 2018? d. What is the net realizable value of accounts receivable at December 31, 2018? accounts 14