Hawky Dawky Ltd. began operations on July 1, 2020 and had the following sales and collection activities during 2020: Sale to Customer 1 on August 1, 2020 $ 160000 Collections from Customer 1 during the year 100000 Sale to Customer 2 on November 1, 2020 80000 40000 Collections from Customer 2 during the year Sale to Customer 3 on December 15, 2020 102000 Collections from Customer 3 during the year 55000 There were no other transactions during the year. Hawky Dawky Ltd. offers its customers terms of 2/10 net 30. Assume that any amounts customers paid was after the 10-day discount period. Hawky Dawky estimates that the likelihood of not being able to collect an accounts receivable is as follows Accounts not yet due 2% Accounts overdue but less than 90 days overdue 5% 20 % Accounts overdue 90 days or more