Multiple Choice Question 101

Before year-end adjusting entries, Marigold Corp.'s account balances at December 31, 2017, for accounts receivable and the related allowance for uncollectible accounts were $1540000 and $91500, respectively. An aging of accounts receivable indicated that $123000 of the December 31 receivables are expected to be uncollectible. The net realizable value of accounts receivable after adjustment is