On January 1, 2014 the accounts receivable and the allowance for doubtful accounts carried balances of $20,000 (debit) and $500 (credit), respectively. During the year, the company reported revenues of $100,000: 30% of which were cash sales. There were $550 of receivables written-off as uncollectible during the year. Cash collections of receivables amounted to $74, 550. If the company estimates bad debts expense to be 1% of credit sales, determine the net realizable value of receivables appearing on the 2014 balance sheet: $14, 150 $14, 250 $14, 700 $14, 900