1. Award: 2 out of 2.00 points Kentucky Supply Co., which had no beginning balance in its Accounts Receivable and Allowance for Doubtful Accounts, earned $120,000 of revenue on account during 2014. During 2014, the company collected $96,000 of cash from its receivables accounts. Kentucky estimates that it will be unable to collect 1% of revenue on account. The amount of net realizable value of receivables on the December 31, 2014 balance sheet would be: $22,800. $24,120. $24,000. $25 200