Use the following information to answer the next 5 questions: On December 31, 2019 a company's Accounts Receivable balance was $440,000. During the year the company recorded credit sales of $770,000 and cash collections of $820,000. In addition, the company wrote off S16,000 of accounts as uncollectible and reinstated and collected on an accounts receivable that was previously written off that totaled $3,000. The company uses the allowance method to account for its receivables. 6. Determine the balance in the accounts receivable account on January 1, 2019: A. $406,000 B. $471,00 C. $506,000 D. $503,000 E. $374,000 7. Assume the beginning balance on January 1, 2019 in the Allowance for Doubtful Accounts is $15,000s| A. a credit to Accounts Receivable for $16,000 B. a credit to Allowance for Doubtful Accounts for $38,000 C. a debit to Bad Debt Expense for $2,000 D. a debit to Bad Debt Expense for $15,000 E. a credit to Allowance for Doubtful Accounts for $28,000 14c, 17C, 200 8. Assume the beginning balance on January 1, 2019 in the Allowance for Doubtful Accounts is $15,000. If the company estimates its bad debt as 2.5% of credit sales determine Net Realizable Value of Accounts Receivable on December 31, 2019. A. $418,750 B. $352,750 C. $420,750 D. $421,750 E. $419,150