Question 2 2 pts If a company uses the allowance method of accounting for bad debts, which one of the following statements is true? It will report accounts receivable in the balance sheet at their net realizable value. It will record bad debts only when an account is determined to be uncollectible. It will reduce the accounts receivable at the end of the accounting period for estimated uncollectible accounts. It violates the matching principle. The following data concerns Wang Corporation for 2016: Credit sales during the year $1,600,000 Accounts Receivable-December 31, 2016 235,000 Allowance for Doubtful Accounts-December 31, 18,000 2016 Bad debt expense for the year 11,000 What amount will Wang show on its year-end balance sheet for the net realizable value of its accounts receivable? $253,000 $235,000 $224,000 $217,000