Bilbo Industries experienced the following transactions for 2017, its first year of operations:

? Provided $182,000 of services on account ? Collected $144,000 cash from accounts receivable ? Paid $72,000 of salaries expense for the year. ? Adjusted the accounts using the following information from an accounts receivable aging schedule:

Number of Days Past Due	Amount	% Likely to be Uncollectible
Current	$15,600	1%
1-30	$9,000	5%
31-60	$4,000	10%
61-90	$4,400	25%
Over 90 Days	$5,000	50%

A) Record the above transactions in T-Accounts and then prepare an Income Statement for Bilbo Industries.

B) What is the net realizable value of the accounts receivable at December 31, 2017.