Leach Inc. experienced the following events for the first two years of its operations: Year 1 1. Issued $18,000 of common stock for cash. 2. Provided $86,800 of services on account. 3. Provided $44,000 of services and received cash. 4. Collected $77,000 cash from accounts recelvable 5. Paid $46,000 of salaries expense for the year. 6. Adjusted the accounting records to reflect uncollectible accounts expense for the year. Leach estimates that 6 percent Part 3 of 9.09 points of the ending accounts receivable balancebe uncollectible. 7. Closed the revenue account. 8. Closed the expense account. eBook Print References Year 2 1. Wrote off an uncollectible account for $750. 2. Provided $96,000 of services on account. 3. Provlded $40,000 of services and collected cash. 4. Collected $89,000 cash from accounts receivable. 5. Paid $73,000 of salaries expense for the year 6. Adjusted the accounts to reflect uncollectible accounts expense for the year. Leach estimates that 6 percent of the ending accounts receivable balance will be uncollectible. Exercise 7-7A Part c c. What is the net realizable value of the accounts receivable at December 31, Year 1