Answer: $42000
Step-by-step explanation:
Based on the scenario in the question, the amount for accounts receivable that will be reported on the balance sheet will be:
Gross receivable balance = $50,000
Less: Allowance for uncollectible account = 16% × $50,000 = 0.16 × $50000 = $8000
Met account receivable = $50,000 - $8,000 = $42,000