Answer these questions:

Music Corporation The data below is for Music Corporation for 2016. Accounts receivableJanuary 1, 2016 $236,000 Credit sales during 2016 820,000 Collections from credit customers during 2016 590,000 Customer accounts written off as uncollectible during 2016 8,000 Allowance for doubtful accountsJanuary 1, 2016 8,700 Estimated uncollectible accounts based on an aging analysis 9,600 1. Refer to the data for Music Corporation.

1. What is the balance of Accounts Receivable at December 31, 2016?

a. $336,000

b. $448,400

c. $458,000

d. $466,000

2. Refer to the data for Music Corporation. If the aging approach is used to estimate bad debts, what amount should be recorded as bad debt expense for 2016?

a. $8,000

b. $8,100

c. $8,700

d. $8,900

3. Refer to the data for Music Corporation. If the aging approach is used to estimate bad debts, what is the balance in the Allowance for Doubtful Accounts after the bad debt expense adjustment?

a. $8,000

b. $8,100

c. $8,900

d. $9,600