11. Hancock Medical Supply Co., earned $84,000 of revenue on account during Year 1, its first year of operation. During Year 1, Hancock collected $66,800 of cash from its receivables accounts. The company did not write-off any uncollectible accounts. It estimates that it will be unable to collect 1% of revenue on account. What is the net realizable value of receivables that will be reported on the balance sheet at December 31, Year 1?

a. $16,532

b. $16,360

c. $17,200

d. $17,028