Use the following to answer question: 
-(Table: Producer Surplus and Phantom Tickets) The table Producer Surplus and Phantom Tickets shows the minimum price at which each of the students is willing to sell a ticket to Phantom of the Opera.Assume that each student has only one ticket to sell.Given the information in the table,if the price for Phantom tickets is $55,total producer surplus for the five students is:
Definitions:
Cash Realizable Value
The amount of money that a company expects to receive from receivables in cash.
Allowance Method
An accounting technique used to account for bad debts by estimating uncollectible accounts at the end of each period.
Accounts Receivable
Funds due to a company for goods or services delivered or used but not yet paid for by customers.
Bad Debt Expense
An expense account that represents accounts receivables that a company does not expect to collect due to customers' inability to fulfill payment obligations.
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