Accounts receivable are shown on the balance sheet at their: Net realizable value Present value Trade value Book value If a customer dishonors a note receivable: The note should be converted to an account receivable The principle shall remain in the notes receivable account The company should send the customer a fruit basket Cash will be received at the due date Florence Company had a debit balance of $1,500 in the Allowance for Doubtful Accounts account and a debit balance of $500,000 in the Accounts Receivable account with Credit Sales of $1,500,000 for the year. Management estimates 1.5% of credit sales will become uncollectible. What is the amount of estimated bad debts expense? $24,000 $22.500 $21,000 $9.000