that ends on July 31. Information related to sales and receivables of the two companies follows: Ahmed Company For Year Ended December 31, 20XX Receivables, less allowance for doubtful $3,780,000 253,000 Net sales accounts of $16,000 For Year Ended July 31, 20XX Khalid Company Net sales $ 3,885,000 Receivables, less allowance for doubtful accounts of $8,000 138,000