Raintree Corporation sells its products to customers on a credit basis. (no cash sales). Raintree records an adjusting entry for bad debts on December 31st every year. (the company's fiscal year end). The December 31, 2019 balance sheet contained the following: Current Assets: Receivables $550,0000 Allowance for uncollectible accounts ( 44,000) Net Accounts Receivable $506,000 During 2020, credit sales were $2,750,000, cash collections from customers were $2,575,000 and $55,000 in accounts receivable were written off as uncollectible. In addition, $12,000 was collected from a customer whose account had been written off in 2019. An aging of Accounts Receivable as of December 31, 2020 estimated that $59,000 of receivables would be uncollectible. Answer the following: Clearly label and show all of your work.

1. What is the balance of Accounts Receivables as of 12/31/20?

2. What is the balance of Allowance for Uncollectible Accounts as of 12/31/20?

3. What is the amount of Bad Debt Expense for 2020?

4. What is the carrying value of Accounts Receivable as of 12/31/20?