Part 2: Accounts Receivables and Allowance Method 5) Quality Inc. is a large wholesaler of electronics. At the end of 2023, the company's controller estimates 5% of the $185,500 in Accounts Receivable will be uncollectible. a. Write the journal entry to record Bad Debt Expense for the period if the Allowance for Doubtful Accounts has a credit balance of $3,100 before this adjusting entry is posted: 12/31/23 b. How does the posting of this journal entry affect the accounting equation? c. What is the Net Realizable Value of Accounts Receivable reported in Spencer Co.'s balance sheet as of Dec. 31, 2023? 6) (Continuation of question 5). Assume that during 2024, a total of $4,275 Accounts Receivable has to be written off due to customers' inability to pay what they owe Quality Inc. a. What journal entry would be used to record this write-off of $4,275? 12/31/24 b. How does the posting of this journal entry affect the accounting equation? c. What is the Allowance for Doubtful Accounts balance after this write off? (Your answer should indicate the amount and whether it is a Debit or Credit balance. Hint: Use a T-account to determine your answer.) d. Quality Inc. assumes that at the end of 2024, 5% of its new $205,000 Accounts Receivable balance will be uncollectible. Using the Allowance for Doubtful Accounts balance from above (question 6c.) determine the Bad Debt Expense that would be recorded at the end of 2024 and enter the journal entry below: 12/31/24