True Or False

1. NBC Company started operations in December 2019 and recorded the following transactions during the period:
   • Cash Sales - $50,000
   • Credit Sales - $75,000
   • Estimated percentage of net credit sales that will be uncollectible is 10%
   • Collections attributed to credit sales - $5,000
   • Returns attributed to credit sales - $7,000
   • Write offs of uncollectible accounts - $6,000

Net Accounts receivable balance under the direct-write off method at the end of December 2019 is equal to $63,000.