Question $5(6$ points$)$

A business has the following balances at the beginning of the year: Accounts receivable: $170000$

Allowance for doubtful accounts: $-15500$

The following summary transactions occurred during the year.

Sales for the year, $100\%$ on credit: $320000$

Cash collected on accounts receivable for the year: $318500$

Write$-$offs of uncollectable accounts receivable : $20400$

Received a cheque from a customer whose account was previously written off: $2040$

The overall rate used to estimate the allowance for doubtful accounts at year end: $8\%$

Using the information above, answer the following questions. Enter the digits only $-$ no dollar signs, commas, or decimal points.

IMPORTANT $-$ enter your answer to the second question $($the balanceThe overall rate used to estimate the allowance for doubtful accounts at year end: $8\%$

Using the information above, answer the following questions. Enter the digits only $-$ no dollar signs, commas, or decimal points.

IMPORTANT $-$ enter your answer to the second question $($the balance in the allowance$)$ as a NEGATIVE number, with a minus sign $(-)$ in front of the digits.

What is the balance in the accounts receivable account at year end?

$$ A

What is the balance in the allowance for doubtful accounts at year end? $$ A

What is the balance in the bad debt expense account at year end?

PLEASE DO THIS IN $30$ mins i will gove thumbs up