The balance sheet of Indigo Company at December 31, 2019, includes the following. Notes receivable $54,600 Accounts receivable 191,700 Less: Allowance for doubtful accounts 26,300 $220,000 Transactions in 2020 include the following. 1. Accounts receivable of $147,000 were collected including accounts of $64,400 on which 2% sales discounts were allowed. 2. $5,620 was received in payment of an account which was written off the books as worthless in 2019. 3. Customer accounts of $26,500 were written off during the year. 4. At year-end, Allowance for Doubtful Accounts was estimated to need a balance of $26,900. This estimate is based on an analysis of aged accounts receivable.
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