Assume that Dome Company had the following balances in its receivable accounts on December 31, 2002: Accounts receivable’ 22.5 os cee et ent eee ee wae in ete ata $400,000 Allowancerfor badidebts isc. As sat te Cee ee atx oo ca 10,200 (credit balance) Transactions during 2003 were as follows: GROSS-Chedit (Sales! tick tac. sce dus ae, apaeae ch cae ae PT Ree Te $1,600,000 Collections of accounts receivable ($1,560,000 less cash discounts OTe ZO OOO) ceca sree te cog ches seo cots as ypathe Naren SS rae ru eid eed Reick caper cede are 1,540,000 Sales returns and allowances (from credit sales)........... 0.0.0 02 0-000 eeuee 10,000 Accounts receivable written off as uncollectible. 4.................22.0...4.:> 6,000 Balance in Allowance for Bad Debts on December 31, 2003 (basedion: percent/of total accountssneceivable)i acu «manatee. «cones oe se oe oa eile 12,000 1. Prepare entries for the 2003 transactions. 2. What amount will Dome Company report for:

a. Net sales in its 2003 income statement?

b. Total accounts receivable on its balance sheet of December 31, 2003?