Ch 9 Part 3 1 Required information (The following information applies to the questions displayed below) At the beginning of Year 1, a company has a balance of $25,900 in accounts receivable. Because the company is a privately owned company, the company has used only the direct write-off method to account for uncollectible accounts However, at the end of Year 1, the company wishes to obtain a loan at the local bank, which requires the preparation of proper financial statements. This means that the company now will need to use the allowance method. The following transactions occur during Year 1 and Year 2 1. During Year 1. Install or conditioning systems on account, $109,000 2. During Year 1, collect $184,000 from customers on account 3. At the end of Year 1, estimate that uncollectible accounts total 20% of ending accounts receivable 4. In Year 2. customers accounts totaling $7.900 are written off as uncolectible 2. Calculate bad debt expense tor 2021 and 2022 under the allowance method and under the direct write-off method, prior to any adjusting enutes in 2022. Leave no cells blank.) Avang Direct Write of Method Year