Mobile Technology Ltd. reported an unadjusted balance of accounts receivable of $1,380,000 at 31 December 20X3, along with a credit balance in the allowance for doubtful accounts of $85,000 and an allowance for sales discounts of $7,900. At year-end, the company determined that an allowance of $21,000 for sales discounts was needed. It also decided that $57,200 of accounts receivable were uncollectible and should be written off. Of the remaining receivables, it was determined that 30% were current, and of the remaining net current balance, an allowance for doubtful accounts of 4% of the net balance was needed. The remaining 70% of outstanding accounts receivable were past due and an allowance for doubtful accounts of 10% of the outstanding balance was needed.

For each of the above show how net accounts receivable would be reported on the statement of financial position and calculate bad debt expense for the year.