Leach Incorporated experlenced the following events for the first two years of Its operations Year 1 : 1. Issued $20,000 of common stock for cash. 2. Provided $89,000 of services on account. 3. Provided $46,000 of services and recelved cash. 4. Collected $79,000 cash from accounts recelvable. 5. Paid $48,000 of salarles expense for the year. 6. Adjusted the accounting records to reflect uncollectible accounts expense for the year Leach estumates that 4 percent of the ending accounts recelvable balance will be uncollectible, 7. Closed the revenue account. 8. Closed the expense occounts. Year 2 . 1. Wrote off an uncollectuble occount for $1.150; 2. Provided $98,000 of services on account. 3. Provided $42,000 of services and coliected cash 4. Collected $91,000 cash from accounts recelvable. 5. Paid $75,000 of salarles expense for the year. 6. Adjusted the accounts to reflect uncollectible accounts expense for the year. Leach estimates that 4 percent of the ending accounts receivable balance wili be uncollectible. 7. Closed the revenue account 8. Closed the expense accounts. Exercise 7.7A (Algo) Part c c. What is the net tealizable volue of the accounts recevable at December 31 Year