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Short Answer 1 (10 Points) The Branson Company uses the percent of sales method of...

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Short Answer 1 (10 Points) The Branson Company uses the percent of sales method of accounting for uncollectible accounts receivable. During the current year, the following transactions occurred: Mar 7 Branson Company determined that the $2.000 account receivable of the Bing Company was uncollectible, and wrote it off. Jun 9 Bing Company paid $1,500 of the amount owed to the Branson Company. Branson Company does not expect further collections from the Bing Company. Dec 31 Branson Company estimates that 1.5% of its $900,000 of credit sales will be uncollectible

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