Trek Manufacturing Company sells its products offering 30 days credit to its customers. During 2018, its first year of operations, the following events occurred: Sales on credit 2,400,000 Cash collections from credit customers 1,405,000 Accounts receivable, end of year $995,000 $30,000 of accounts were deemed uncollectible in 2018. The company anticipates that $48,000 worth of ARs will ultimately become uncollectible. Which of the following is not true regarding Treks 2018 financial statements? A. Trek reports bad debt expense of $48,000. B. Trek reports net Accounts Receivables of $947,000. C. Trek reports gross Accounts Receivables of $965,000. D. Trek reports Allowance for doubtful accounts of $48,000.