Question Help Lithotech, Inc had net sales in 2018 of $700,000 At December 31, 2018, before adjusting entries, the balances in selected accounts were: accounts receivable $124,000 debit, and allowance for doubtful accounts $1,700 credit. Lithotech estimates that 5% of its receivables will prove to be uncollectible. What is the net realizable value of the receivables reported on the statement of financial position at December 31, 2018 after adjusting entries? O A. $116,100 OB. $119,500 O C. $117.800 O D. $124,000 Danzig Inc. factors $10,000,000 of its accounts receivables without recourse for a finance charge of 4%. The finance company retains an amount equal to 10% of the accounts receivable for possible adjustments. What would be recorded by Danzig as a gain (loss) on the transfer of receivables? O A. gain of $400,000 B. loss of $1,400,000 O C. loss of $1,000,000 O D. loss of $400,000