ornerstone Exercise 5-27 (Algorithmic) ging Method in January 1, 2019, Hungryman, Inc., has the following balances for accounts receivable and allowance for doubtful accounts: Accounts Receivable Allowance for Doubtful Accounts (a credit balance) $1,286,400 48,000 During 2019, Hungryman had $18,800,000 of credit sales, collected $17,945,000 of accounts receivable, and wrote off $60,000 of accounts receivable as uncollecti year end, Hungryman performs an aging of its accounts receivable balance and estimates that $52,000 will be uncollectible. Required: 1. Calculate Hungryman's preadjustment balance in accounts receivable on December 31, 2019. $ 2,081,400 2. Calculate Hungryman's preadjustment balance in allowance for doubtful accounts on December 31, 2019. $ 12,000 . Feedback Check My Work 162. Using accounts, start with the balance at the beginning of the year and make the necessary debitandior credits for the transactions that occurred durger 3. Prepare the necessary adjusting entry for 2019. Bad Debt Expense L Allowance for Doubtful Accounts Record adjusting entry for bad debt expense estimate