net sales (all on account) in 2020 of $6,750,000. At December 31, 2020, before adjusting entries, the balances in selected accounts were: accounts receivable $1,060,000 debit, and a debit balance in the allowance for doubtful accounts of $7,000. it is estimates that 4% of its accounts receivable will prove to be uncollectible. What is the net realizable value of the receivables reported on the financial statements at December 31, 2020?