16. Blue Company provides for bad debts expense at the rate of 2% of credit sales. The following data are available for 2010: Allowance for doubtful accounts 1/1/10 (Cr.) $10,500 Accounts written off as uncollectible during 2010 $6,500 Credit sales in 2010 $1,500,000, The Allowance for Doubtful Accounts balance at December 31, 2010, should be: * 8. Blue Company acquired land for $86,000 cash. Additional costs are as follows: Removal of shed $300 Filling and grading $1,500 Salvage value of shed $120 Broker Commission $1,130 Paving of parking lot $10,000 Closing costs $560 Blue will record the acquisition cost of the land as : *