A portion of the current assets section of the December 31, 2020, balance sheet for Carr Co. is presented here:

Accounts receivable	$	44,000
Less: Allowance for bad debts		(7,200	)	$	36,800

The company's accounting records revealed the following information for the year ended December 31, 2020:

Sales (all on account)	$ 425,000
Cash collections from customers	436,000
Accounts written off	13,500
Bad debts expense (accrued at 12/31/20)	9,900

Required: Using the information provided for 2020, calculate the net realizable value of accounts receivable at December 31, 2019, and prepare the appropriate balance sheet presentation for Carr Co., as of that point in time. (Hint: Use T-accounts to analyze the Accounts Receivable and Allowance for Bad Debts accounts. Remember that you are solving for the beginning balance of each account.)

ACCOUNTS RECEIVABLE :
LESS: ALLOWANCE FOR BAD DEBTS:
ACCOUNTS RECEIVABLES (NET):