The following balances relate to ABC Company:Credit Sales during 2017: $2,000,000Allowance for bad debt (1/1/2017): $9,000 (credit)Accounts Receivable (1/1/2017): $100,000Several transactions related to accounts receivable occurred during 2017.An account with a balance of $800, previously written off, is collected during 2017.Along with this, $1,200 of ABC’s accounts receivable are written off in 2017 as noncollectable.At the end of the year, annual bad debts are estimated to be 3% of credit sales.What is the ending balance in accounts receivable and allowance for bad debts accounts at December 31, 2017 (After Adjustment)?
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