Lamduan Inc had net sales in 2022 of 700,000. On December 31, 2022, before adjusting entries, the balances in selected accounts were: accounts receivable 125,000 debit, and allowance for doubtful accounts 1,200 credit. Lamduan estimates that 2% of its net sales will prove to be uncollectable. What is the cash realizable value of the receivables reported on the statement of financial position on December 31, 2022?