Using the following information about ABC Co., answer the questions below: Sales (on credit) Sales Returns and Allowances Gross AR at year end $850,00 50,000 175,000 Prepare journal entries for the following INDEPENDENT situations: 1. Estimate for uncollectible accounts if estimated using 2.5% of NET credit sales. 2. Estimate for uncollectible accounts if estimated using AR was $8,000 and the balance in the balance in the ADA is a credit balance of $2,500. 3. Estimate for uncollectible accounts if estimated using the AR aging report was $8,000 and the balance in the balance in the ADA is a debit balance of $2,500. 4. a. Estimate for uncollectible accounts if estimated using the AR aging report is $8,000 and the balance in the ADA is a credit balance of $2,500 AND write-offs recorded during the year were $9,000 b. Given your answer to a., what is the Net Realizable Value of AR