At January 1, 2004, XYZ Company's allowance for doubtful accounts had a $25,000 credit balance. During 2004, XYZ Company wrote-off as uncollectible accounts receivable totaling $17,000. Based on an aging of its accounts receivable at December 31, XYZ Company determined that its bad debt expense for 2004 was equal to $48,000. If XYZ Company had total accounts receivable of $280,000 at December 31, 2004, then its net realizable value of accounts receivable at December 31, 2004 must equal: 

Question 2 options:

A)

$207,000

B)

$232,000

C)

$190,000

D)

$224,000

E)

$240,000