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Question 16 At January 1, 2023, THE Company had accounts receivable of $240,000 and an allowance for doubtful accounts with an $11,800 credit balance. During 2023, THE Company had sales revenue of $595,000 and wrote-off $22,000 of accounts receivable as being uncollectible. The aging schedule below was prepared at December 31, 2023: Accounts Receivable not past due $185,000 1-30 days past due 102,000 31-60 days past due 69,000 61-90 days past due 74,000 over 90 days past due 36,000 % Uncollectible 2% 7% 14% 25% 40% THE Company uses the aging method to estimate its bad debt expense. THE Company collected cash from its credit customers during 2023 in the amount of: $129,000 $347,000 $369,000 $391,000 $412,600 sales revenue of $595,000 and wrote-off $22,000 of accounts receivable as being uncollectible. The aging schedule below was prepared at December 31, 2023: Accounts Receivable not past due $185,000 1-30 days past due 102,000 31-60 days past due 69,000 61-90 days past due 74,000 over 90 days past due 36,000 % Uncollectible 2% 7% 14% 25% 40% THE Company uses the aging method to estimate its bad debt expense. THE Company collected cash from its credit customers during 2023 in the amount of: $129,000 $347,000 $369,000 $391,000 $412,600 $444,000 none of the above choices are correct

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