Accounts receivable $1,050,000Allowance (90,000) Cash realizable value $960,000During 2007 sales on account were $290,000 and collections on account were $172,000. Also during 2007 the company wrote off $16,000 in uncollectible accounts. An analysis of outstanding receivable accounts at year end indicated that bad debts should be estimated at $108,000.52. Bad debts expense for 2007 isa. $ 34,000b. $ 18,000c. $108,000d. $ 2,000
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