On January 1, Henry Company's allowance for doubtful accounts had a credit balance of $44,000. The balance in the Accounts Receivable account on that date was $185,000. On January 2, prior to any credit sales, a $14,500 account from Walco Company was deemed to be uncollectible and written off.

Please show work and calculate:

Compute the net realizable value of Henrys receivables on January 1.
What is the balance in the Accounts Receivable account immediately following the write-off of the Walco account?
Compute the net realizable value of Henrys receivables on January 2, immediately following the write-off of the Walco account.