On January 1, 2014 the Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $30,000 and $500, respectively. During the year the company reported $75,000 of credit sales. There were $550 of receivables written-off as uncollectible in 2014. Cash collections of receivables amounted to $74,550. The company estimates that it will be unable to collect one percent (1%) of credit sales. The amount of uncollectible accounts expense recognized in the 2014 income statement will be? $700 $300. $750. $550. 125 5 At January 1, 2019, Alkhraj Industries reported owners equity of S200,000. During 2014, Alkhraj had a net loss of $20,000 and owner drawings of $10,000. At December *31, 2014, the amount of owners equity is