Larsen Company Began the Current Year with Balances in Accounts

Larsen Company began the current year with balances in accounts receivable and allowance for doubtful accounts of $45,700 and $1,280, respectively. The company reported credit sales of $475,250 during the year, collected $480,200, and wrote off $800 of uncollectible accounts. Larsen Company estimates that 12% of its accounts receivable balance will be uncollectible.Required:Determine the balance in the allowance for doubtful accounts as of the end of the current year.Compute Larsen Company's uncollectible accounts expense for the current year.Determine Larsen's net realizable value of accounts receivable as of the end of the current year.