Olson Corp. reported the following in the Current Assets section of its December 31, 2017, balance sheet:

_____________________________________ 12/31/17 _______________ 12/31/16

Accounts receivable, net of allowances of

$5,000 and $3,000, respectively ............... $54,000 .......................... $48,000

During 2017, Olson recorded $80,000 of sales on credit and wrote off $4,000 of uncollectible accounts.

Required

1. Determine the amount of cash collected during 2017 from sales on credit.

2. Determine the amount of bad debts expense for 2017.