Question - The financial statements for Anne Teak's Knick Knack Store show the following balances as of December 31, 2014:
Cash Sales: $1,500,000
Credit Sales: $6,800,000
Sales Returns and Allowance: $85,000
Sales Discounts: $228,000
Accounts Receivable: $1,900,000
Allowance for Doubtful Accounts: $54,000 (Credit)
Notes Receivable: $320,000
An aging of accounts receivable indicates that $186,000 is expected to become uncollectible as of December 31, 2014. If the percentage of receivables method is used, what is the balance is Allowance for Doubtful Accounts after any adjustment is made?