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Accounting

Required Information
[The following information applies to the questions displayed below.]
Leach Incorporated experlenced the following events for the first two years of Its operations:
Year 1:
Issued $10,000 of common stock for cash.
Provided $70,000 of services on account.
Provided $33,000 of services and recelved cash.
Collected $37,000 cash from accounts recelvable.
Pald $22,000 of salarles expense for the year.
Adjusted the accounting records to reflect uncollectible accounts expense for the year. Leach estimates that 5 percent
of the ending accounts recelvable balance will be uncollectible.
Year 2:
Wrote off an uncollectible account for $2,560.
Provided $90,000 of services on account.
Provided $20,000 of services and collected cash.
Collected $72,000 cash from accounts recelvable.
Pald $22,000 of salarles expense for the year.
Adjusted the accounts to reflect uncollectible accounts expense for the year. Leach estimates that 5 percent of the
ending accounts recelvable balance will be uncollectible.
What is the net realizable value of the accounts recelvable at December 31, Year 1?
Net realizable value
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