Complete the following problems and submit for grading: 1. At the end of October, Santa Fe Company's management estimates the uncollectible accounts expense to be 1 percent of net sales of $1,385,000. Prepare the journal entry to record the uncollectible accounts expense, assuming the Allowance for Uncollectible Accounts has a debit balance of $7,000. (2 points) 2. An aging analysis on June 30 of the accounts receivable of U-Z Door Corporation indicates that uncollectible accounts amount to $86,000. Prepare the journal entry to record uncollectible accounts expense under each of the following independent assumptions: (4 points) a. Allowance for Uncollectible Accounts has a credit balance of $18,000 before adjustment. b. Allowance for Uncollectible Accounts has a debit balance of $14,000 before adjustment. 3. At the beginning of 2014, the balances for Accounts Receivable and Allowance for Uncollectible Accounts were $215,000 and $15,700 (credit), respectively. During the year, credit sales were $1,600,000 and collections on account were $1,475,000. In addition, $17,500 in uncollectible accounts was written off. (5 points) Using T accounts, determine the year-end balances of Accounts Receivable and Allowance for Uncollectible Accounts. Then prepare the year-end adjusting entry to record the uncollectible accounts expense under each of the following conditions. Also show the year-end balance sheet presentation of accounts receivable and allowance for uncollectible accounts. a. Management estimates the percentage of uncollectible credit sales to be 1.2 percent of total credit sales. b. Based on an aging of accounts receivable, management estimates the end-of-year uncollectible accounts receivable to be $19,350. Post the results of each of the entries to the T account for Allowance for Uncollectible Accounts