Problem $1$: Textbook problem E$5-47($page $5-47)($Custom eBook $-$ 'Financial Accounting for

MBAs"$)$ Use the information provided and fill out the following tables.

a$)$ Fill in the following account details for the Allowance for Uncollectible Accounts

b$)$ Fill in following balance sheet and income statement presentation for respective year

$[$Hint: Companies can use $\%$ of sales method to estimate bad$-$debt expense provision directly, instead

of using aging schedule which estimate the ending allowance balance to back out bad$-$debt expense

provision. For example, suppose the company estimate that $1\%$ of the reported sales as bad$-$debt

expense provision, then the ending balance would follow as beginning balance $+$ bad$-$debt expense

provision $-$ write$-$offs.$]$

Problem $2$: Follow$-$up to E$5-47($above$)$:

The management is reconsidering the $1\%$ policy and would like to create the following ratios:

Suppose an aging analysis is conducted on the Year$-3$ ending Accounts Receivable balance which

leads to a best estimate of Allowance to be $5,070.$ Assuming Year$-1$ and Year$-2$ figures cannot be

changed, what would be the Year$-3$ bad$-$debt expense has to be for the ending allowance to be $$5,070?$

Please see attachment for E$5-47$