Problem $7-19$A $($Static$)$ Determination of account balances and preparation of journal entries$-$percent of receivables allowance method of accounting for uncollectible accounts LO $7-2$

The following information is available for Quality Book Sales' sales on account and accounts receivable.

Accounts receivable balance, January $1,$ Year $2$

$\backslash$table$[[$Allowance for doubtful accounts, January $1,$ Year $2,$$$78,500$