Below are the beginning balances in accounts receivable and allowance for bad debt for Easter Company:

$\backslash$table$[[$Accounts Receivable $(1/1/$YR$1),50,000],[$Allowance for Bad Debt $(1/1/$YR$1),12,000($credit$)]]$

Several transactions related to accounts receivable occurred during Year $1.$

$(1)$ The company had sales of $3,000,000.70\%$ were on credit.

$(2)$ An account with a balance of $$4,000,$ previously written off, is collected during Year $1.$

$(3)$ $$10,000$ of the Easter's accounts receivable are written off in Year $1$ as uncollectible.

$(4)$ During the year, the company collected $55\%$ of the beginning balance of accounts receivable and $75\%$ of the credit sales.

Calculate bad debt expense and net realizable value $($i$.$e$.,$ net accounts receivable$)$ on December $31,$ Year $1($after adjustment$),$ if annual bad debts are estimated:

$($a$)$ to be $2\%$ of credit sales.

$($b$)$ to be $8\%$ of accounts receivable