Exercise 5-1 Accounting for bad debts: Allowance method LO 5-1 The following information applies to the questions displayed below Michelle's Accounting Service began operation on January 1,2014. The company experienced the following events for Its first year of operations Events Affecting 2014 1. Provided $170,000 of accounting services on account 2. Collected $127,500 cash from accounts recelvable. 3. Pald salanes of $38,000 for the year 4. Adjusted the accounts to reflect management's expectations that uncollectible accounts expense would be $1,600 References Section Break Exercise 5-1 Accounting for bad debts Allowance method LO 5 8.00 points Exercise 5-1 Part a Type here to search