Problems (18%) Problem 1 Seahawks' Touchdowns, Inc. reported the following on its December 31, 2019 balance sheet (000's omitted): Accounts Receivable, net of allowance for doubtful accounts of $462 $1,788 The company makes its adjusting entry for bad debts at the end of the year. During 2020, cash collections were $3,432. In addition, 5368 in counts receivable were written off and s3 was collected from an account written off in 2018. An aging of accounts receivable reveals the following: Age Estimated % Group Amount Uncollectible 5% 31-60 61-90 91-120 121+ 550 440 220 110 2.200 14% 50% 75% 90% Show your work and highlight your answer. T-accounts are included above i needed. A. What were credit sales during 2020? The next two questions are independent of each other. B. If the company records bad debts based on the sing analysis, what is the 12/31/20 ndiustine entry? NRV of A/R? Show your work and highlight your answers Adjusting Journal Entry: I Net Realizable Value of Accounts Receivable 12/31/20: C. Ir the company records bad debts as 12.0% of credit sales, what is the 12/31/20 adjusting entry? NRV NR? Show your work and highlight your answers. Adjusting Journal Entry: Net Realizable Value of Accounts Receivable 12/31/20