Peter Company uses the aging method to adjust the allowance for uncollectible accounts at the end of the period. At December 31, 2020, the balance of accounts receivable is $240,000 and the allowance for uncollectible accounts has a credit balance of $3,500 (before adjustment). An analysis of accounts receivable produced the following age groups: (Click the icon to view the accounts receivable aging information.) The adjusting entry for bad debt expense was made in the amount of $12,580. What is the amount of the net receivables on the balance sheet? The net receivables on the balance sheet are $ 223920