Questions about accounts receivable and doubtful accounts Dragon Designs Ltd had the following general ledger accounts for last year, using the T-account format. All the company’s sales are on credit...

Questions about accounts receivable and doubtful accounts Dragon Designs Ltd had the following general ledger accounts for last year, using the T-account format. All the company’s sales are on credit to retail stores across the country. The first amount in each account is the balance at the beginning of the year; the last amount, under the solid line, is the balance at the end of the year. Other amounts are transactions and adjustments during the year. Accounts receivable Allowance for doubtful debts Bad debts expense Op. 244 620 Op. 11 914 Op. 0 1 693 784 1 599 005 9 117 9 117 8 293 8 293 Cl. 331 106 Cl. 12 738 Cl. 9 117 1 What was the company’s revenue for the year? 2 How much was collected on account of revenue for the year? 3 How much of the uncollected revenue did the company give up on during the year? 4 What was the expense the company incurred from taking the risk of extending credit to customers during the year? 5 What was the estimated collectable value of the accounts receivable at the end of the year? 6 What was the estimated collectable value of the accounts receivable before the year-end write-off of uncollectable accounts?