Question: Question 1 (1 point) Saved Kentucky Supply Co., which had no beginning balance in its Accounts Receivable and Allowance for Doubtful Accounts, earned $80,000 of

Question 1 (1 point) Saved Kentucky Supply Co., which had no beginning balance in its Accounts Receivable and Allowance for Doubtful Accounts, earned $80,000 of revenue on account during 2014. During 2014, the company collected $64,000 of cash from its receivables accounts. Kentucky estimates that it will be unable to collect 2% of revenue on account. The amount of net realizable value of receivables on the December 31, 2014 balance sheet would be: 1) $16,640. 2) $17,400. 3) $16,000. 4) $14,400

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