Question Completion status: QUESTION 25 3 points Se Army Crazy T-Shirts uses the Allowance method to account for uncollectible accounts receivable. As of December 31, 2021, Management estimates that 10% of its Accounts Receivable balance of $150,000 will not be collected. Based on this information, please answer the following questions: 1. What should the balance in the Allowance for Doubtful Accounts be as of December 31, 2021? (3 points) 2. What would the net balance of Accounts Receivable be on the company's balance sheet as of December 31, 2021? (3 points) 3. Assuming that the company had a $5,000 credit balance in its Allowance for Doubtful Accounts prior to any adjustments being made, what is the adjusting entry required to increase the allowance to the amount you calculated in number 1 above? (4 points) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). B IUS Paragraph XQ52 Open Sans,sa 10pt Ev Av LY T www x X - 0 > +] < r KP + 1 T * BBY Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save Al Awes Save and Subm