ed Mobile Technology Ltd. reported an unadjusted balance of accounts receivable of $1,290,000 at 31 December 20X3, along with a credit balance in the allowance for doubtful accounts of $83,200 and an allowance for sales discounts of $6,100. At year-end, the company determined that an allowance of $12,000 for sales discounts was needed. It also decided that $53,600 of accounts receivable were uncollectible and should be written off. Of the remaining receivables, it was determined that 45% were current, and of the remaining net current balance, an allowance for doubtful accounts of 2% of the net balance was needed. The remaining 55% of outstanding accounts receivable were past due and an allowance for doubtful accounts of 10% of the outstanding balance was needed. Required: For each case above, show how net accounts receivable would be reported on the statement of financial position, and calculate bad debt expense for the year. (Round your answers to the nearest whole dollar.) Accounts receivable $ 1,236,400 Less: Allowance for doubtful accounts (79,130) Less: Allowance for sales discounts (29,600) Net accounts receivable $ 1,127,670 Bad debt expense $ 49,560 *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted