On December 31 of Swift Co.’s first year, $50,000 of accounts receivable is not yet collected. Swift estimates that $2,000 of its accounts receivable is uncollectible and recorded the year-end adjusting entry.

1. Compute the realizable value of accounts receivable reported on Swift’s year-end balance sheet.

2. On January 1 of Swift’s second year, it writes off a customer’s account for $300. Compute the realizable value of accounts receivable on January 1 after the write-off.