Exercise 5-3A (Algo) Analyzing account balances for a company using the allowance method of accounting for uncollectible accounts LO 5-1 The following account balances come from the records of Ourso Company: During the accounting perlod, Ourso recorded $12,300 of sales revenue on account. The company also wrote off a $114 account recelvable. Requlred a. Determine the amount of cash collected from recelvables. b. Determine the amount of uncollectlble accounts expense recognized during the perlod. Brief Exercise 5-6 (Algo) Allocating product cost between cost of goods sold and ending inventory: Multiple purchases. LO 5-6 LoDo Designs sells smart phone cases that are custom designed by local artists. Its beginning Inventory of cases was 170 units at $35 per unit. During the year, Cortez made two batch purchases of these cases. The first was a 210-unit purchase at $38 per unit; the second was a 300 -unlt purchase at $41 per unlt. During the perlod, It sold 550 cases. Requlred: Determine the amount of product costs that would be allocated to cost of goods sold and ending Inventory, assumIng that LoDo Designs uses a. FIFO. b. LIFO