Alpha Gym allows services to be on account to loyal customers. The unadjusted Accounts Receivable at the end of the year amounts to $120,000 and unadjusted Allowance for doubtfu accounts amounts to P5,000. Service revenue for the year amounted to $1,250,000. If Alpha Gym estimates 2% of revenue as bad debts, what is the net realizable value of the receivables which should be presented in the statement of financial position