More info Since it sells on credit, the company cannot expect to collect 100% of its accounts receivable. At December 31, 2021, and 2022, Ship Fast reported the following on its balance sheet (in millions of dollars): December 31, 2022 2021 Accounts receivable 4,100 $ 3,400 Less: Allowance for uncollectible accounts (120) (190) Accounts receivable, net $ 3,980 $ 3,210 During the year ended December 31, 2022, Ship Fast earned service revenue and collected cash from customers. Assume uncollectible-account expense for the year was 2% of service revenue on account and that Ship Fast wrote off uncollectible receivables and made other adjustments as necessary. At year-end, Lincoln ended with the foregoing December 31, 2022, balances. Print Done -