1. SB Inc. had net sales in 2019 of $700,000. At Dec. 31, 2019, the following information was listed which was about the balances in selected accounts before adjusting entries:

Accounts receivable debit balance: $160, 000

Allowance for doubtful accounts credit balance: $1,200

Estimated uncollectable receivable: 2% of net accounting receivable

At Dec. 31, 2019, on the statement of financial position, what is the cash realizable value of the receivables?

-> $158,024

My solving process:

Accounts receivable debit balance - Allowance for doubtful accounts credit balance = net accounting receivable

160,000 - 1,200 = 158,800

2% of net accounting receivable = 3,176

uncollectable receivable > Allowance for doubtful accounts credit balance

difference: - $1,976

160,000 - 1,976 = 158,024

Is it right?