Multiple Choice Question 111 Sheridan Company had a 1/1/17 balance in the Allowance for Doubtful Accounts of $37000. During 2017, it wrote off $27000 of accounts and collected $8000 on accounts previously written off. The balance in Accounts Receivable was $810000 at 1/1 and $940000 at 12/31. At 12/31/17, Sheridan estimates that 5% of accounts receivable will prove to be uncollectible. What should Sheridan report as its Allowance for Doubtful Accounts at 12/31/17? $ 19000. $ 47000. $ 26500. $ 18500