Raintree Cosm debt disclosed the following: etic Company sells its products to customers on a credit basis. An adjusting entry for bad expense is recorded only at December 31, the company's fiscal year-end. The 2015 balance sheet Current assets: Receivables, net of allowance for uncollectible accounts of $42,000 $492,000 During 2016, credit sales were $1,810,000, cash collections from customers $1,890,000, and $51,000 in accounts receivable were written off. In addition, $4,200 was collected from a customer whose account was written off in 2015. An aging of accounts receivable at December 31, 2016, reveals the following: Percentage of Year-End ercen Age Group 0-60 days 61-90 days 91-120 days Over 120 days Receivables in Group Uncollectible 5% 70% 20 5 15 20 40