Kodak’s Kandy had the following balances in regards to Accou…
Kodak’s Kandy had the following balances in regards to Accounts Receivable at 1/1/25: Accounts Receivable $ 250,000 Allowance for Doubtful Accounts $ 6,000 During the year, Kodak’s Kandy sold $540,000 of services on account. Additionally, they collected $475,000 in cash on accounts receivable on which $180,000 (of the $475,000) was related to sales prior to 1/1/2025. Further, they determined that Cassie’s Candy would not pay their bill of $1,850 and wrote off that account. At the end of 2025, Kodak’s Kandy decided to account for uncollectible accounts using the aging of receivables method. The estimate is 1% for accounts receivable less than a year outstanding and 3% of accounts receivable greater than a year outstanding at 12/31/2025 will be uncollectible. Part B. What is the net Accounts Receivable balance for 2025? (5 points)