12. method? The Alfonso Corporation begins operations in Year One. The company makes credit sales of $800,000 each year while collecting cash of $430,000. Every year, receivables of $31,000 are written off as being doubtful. Company officials estimate that 5 percent of all credit sales will eventually prove to be uncollectible. What figures will be reported in the company's Year Two financial statements in connection with these credit sales? The Fallston Corporation begins operations in Year One. The company makes credit sales of $1.2 million each year while collecting cash of $800,000. Every year, receivables of $30,000 are written off as being doubtful. Company officials estimate that 5 percent of ending accounts receivable will eventually prove to be uncollectible. What figures will be reported in the company's Year Two financial statements in connection with these credit sales? 13