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Petra, Inc. uses the percentage of receivables basis to estimate its bad debts. At December...

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Accounting

Petra, Inc. uses the percentage of receivables basis to estimate its bad debts. At December 31, 2017, Petra estimates total bad debts that will become uncollectible in the future as $22,280. The existing balance in the Allowance for Doubtful Accounts is a credit balance of $6,600. The Accounts Receivable balance at December 31, 2017 is $199,000. The cash realizable value of Accounts Receivable reported on the statement of financial position at December 31, 2017 is

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