Question 15 (4 points) The following information is related to December 31, 2016 balances. Accounts receivable Allowance for doubtful accounts (credit) Cash realizable value $1,400,000 (120,000) 1,280,000 During 2017 sales on account were $390,000 and collections on account were $230,000. Also, during 2017 the company wrote off $22,000 in uncollectible accounts. An analysis of outstanding receivable accounts at year end indicated that bad debts should be estimated at $144,000. Bad debt expense for 2017 is: 13 1) $46,000 2) $24,000. 3) $144,000 4) $2,000