Question: CES Multiple Choice Question 135 CALCULATOR FULL SCREEN PRINTER VERSION NEXT The following information is related to December 31, 2016 balances. Accounts receivable Allowance for

CES Multiple Choice Question 135 CALCULATOR FULL SCREEN PRINTER VERSION NEXT The following information is related to December 31, 2016 balances. Accounts receivable Allowance for doubtful accounts (credit) $3150000 (275000) Cash realizable value $2850000 During 2017 sales on account were 5885000 and collections on account were $507000. Also during 2017 the company wrote off $42500 in uncollectible accounts. An analysis of outstanding receivable accounts at year end indicated that bad debts should be estimated at $380000. Bad debt expense for 2017 is $147500 $380000 $62500 $105000 tudy

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