Question 16 (1 point) During the year, Peter Ltd., which uses the allowance method, made an entry to write off a $2,000 uncollectible account. Before this entry was posted, the balance in accounts receivable was $40,000 and the balance in the allowance account was $3,500. The net realizable value of accounts receivable after the write off entry was 1) $38,000.00 2) $36,500.00 3) $40,000.00 04) $38,500.00 Question 17 (3 points) Kyla Co. prepared an aging of its accounts receivable at December 31, 2020 and determined that the net realizable value of the receivables was $580,000. Additional mation for the year 2020 follows