Problem: Module 2 Textbook Problem 5 Learning Objective: 22 Use the percent of revenue method to account for uncollectible accounts expense Joey's Bike Shop sells new and used bicycle parts. Although a majority of its sales are cash sales, it makes a significant amount of credit sales. During Year 1, its first year of operations, Joey's Bike Shop experienced the following: Required Assume that Joey's Bike Shop uses the allowance method of accounting for uncollectible accounts and estimates that 1 percent of its sales on account will not be collected. Answer the following questions: a. What is the Accounts Receivable balance at December 31 , Year 1 ? b. What is the ending balance of Allowance for Doubtul Accounts at December 31 , Year 1, after all entries and adjusting entries are posted? c. What is the amount of uncollectible accounts expense for Year 1 ? d. What is the net realizable value of accounts recelvable at December 31 , Year 1