Question - At the end of its first year of operations, December 31, 2015, Chevy Chase Inc. reported the following information.
Accounts receivable, net of allowance for doubtful accounts - $475,000
Customer accounts written off as uncollectible during 2015 - 12,000
Bad debt expense for 2015 - 42,000
What should be the balance in accounts receivable at December 31, 2015, before subtracting the allowance for doubtful accounts?