Gaine Company has organized its accounts receivable by customer and how long each receivable has been outstanding. Gaine records bad debt expense based on an analysis of an aged schedule. The following information is as of the end of the year (December 31): At the beginning of the year, Gaine had accounts receivable of $490,000 and a credit balance of $33,000 in its allowance for uncollectible accounts. During the year, it wrote off specific accounts receivable in the amount of $90,000. Assume no recoveries of write-offs during the year. Requirement a. Compute bad debt expense for the year ending December 31 and the net realizable value of Gaine's accounts receivable as of December 31