Cho Company has sales of $900,000, of which 25% are cash sales and the remainder is on credit. As of year-end, but before the bad debts adjustment, the Allowance for Doubtful Accounts has a credit balance of $300, and Accounts Receivable has a debit balance of $60,000. If bad debts are estimated to be 1.5% of credit sales, determine the companys Net Realizable Value of Accounts Receivable at the end of the year.

Group of answer choices

$49,875

$50,175

$46,200

$49,575