U 250.000 QUESTIONS Katzenjammer Inc, sells guitars and reports towing balances in sus at December 31, 2019: Sales River $400,000 Cash received from Guitar Sales $425,000 Bad Dobt Expense $30.000 Allowance for Doubtful Accounts $17,000 Cost of Goods Sold $250,000 Cash Paid for Guitars $175,000 Sales Discounts $10,000 + Accounts Receivable $40,000 What amount would be reported as Gross Profit 2.5110,000 b. $140,000 O $165.000 d. 150,000