A company receives rent from a large number of properties. The total received during the year ended on June 30, 2019 was $481,295.

The following were the amounts of unearned rent and rents receivable at June 30, 2018 and 2019:

	June 30, 2018	June 30, 2019
Unearned Rent	$28,700	$31,255
Rents receivable, net	$21,255	$18,400

Rents receivable, net represents the net realizable value of rents receivable. The firms income statement for the fiscal year ended on June 30, 2019 shows $500 bad debt expenses related to rents receivable. The company wrote off $5,000 rents receivable during the fiscal year ended on June 30, 2019. What amount of rental revenues should appear in the companys income statement for the year ended on June 30, 2019?