Question 1 (1 point) The following information is related to December 31, 2016 balances. Accounts receivable Allowance for doubtful accounts (credit) Cash realizable value S3,150,000 (270,000) S2,880,000 . During 2017 sales on account were $870,000 and collections on account were $516.000. Also during 2017 the company wrote off $48,000 in uncollectible accounts. An analysis of outstanding receivable accounts at year end indicated that bad debts should be estimated at $324,000. The change in the cash realizable value from the balance at 12/31/16 to 12/31/17 was a 1) $300,000 increase. 2) $354,000 increase 3) $252,000 increase. 4) $306,000 increase. Save Question 2 (1 point) The financial statements of the Nelson Manufacturing Company reports net sales of $360,000 and accounts receivable of $50,000 and $30,000 at the beginning of the year and end of year, respectively. What is the accounts receivable turnover for Nelson? 1) 4.5 times 2) 7.2 tmes 3) 12.0 times 4) 9.0 times