Hancock Medical Supply Co., earned $160,000 of revenue on account during Year 1, its first year of operation. During Year 1, Hancock collected $128,000 of cash from its receivables accounts. The company did not write-off any uncollectible accounts. It estimates that it will be unable to collect 1% of revenue on account. What is the net realizable value of recelvables that will be reported on the balance sheet at December 31, Year 1? $30,400 $30,720 $32,000 $30,000 Allegheny Company ended Year 1 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $23.000 and $900, respectively. During Year 2. Allegheny wrote off $1,500 of Uncollectible Accounts Using the percent of receivables method, Allegheny estimates that the ending Allowance for Doubtful Accounts balance should be $1,600. What amount will Allegheny report as Uncollectible Accounts Expense on its Year 2 income statement? $2,200 O $1,500 $700 $1,600