During the first year of operation,2016, custom appliance Co. recognized 320,000 of service revenue on the account. At the end of 2016, the account receivable balance was 47,000 . for this year of business, the owner believes that 1 percent of credIt sale will be uncollectable. Answer the following questions

1- qhat amount of cash did custom collect from account receovable during 2016?

2- assuming custom use the allowance method to account for bad debit, what amount shoulf cosyum recored as bad debit expense for 2016?

3- prper jurnal enterie to

- recored service revenue on account

- recored cllections from account receivable

- recored the entry to regonize bad debt expense

4- what is the net realizable value ?

5- showes the effect of the tansictions in Q3 on the finacial statment by recordeing +/- in the finacial statment, also weather the activity is OA/NAA/FA