16. The following information is available for Closer Company relative to 2014 operations Accounts receivable, January 1, 2014 Accounts receivable collected during 2014 Cash sales during 2014 Inventory, January 1, 2014 Inventory, December 31, 2014 Purchases of inventory during 2014 Gross margin on sa S 40,000 84,000 20,000 48,000 44,000 80,000 42,000 les What is Closer Company's accounts receivable balance at December 31,2014? a. $82,000 b. $20,000 c. $62,000 d. $146,000 17. The following information is from the records of Sumter, Inc. for the year ended December 31, 2014. Allowance for Doubtful Accounts, January 1, 2014 . Sales, 2014 6,000 (cr) 2,920,000 32,000 If the basis for estimating bad debts is 1 percent of net sales, the correct amount of doubtful accounts expense for 2014 is a. $34,880 b. $23,200 c. $22,800. d. $28,880