On January 1, Ramirez Company had the following (normal) account balances Accounts Receivable $70,200 Allowance for Bad Debts 1,220 The bookkeeper, Alice Rivera, has prepared the following information for the year to assist you in creating a balance sheet Credit Sales for the Year Collections of Accounts Receivable Write-off of Bad Debts Bad Debts Expense for Year (recorded as an adjusting entry on December 31) 189,400 186,470 1,030 1,240 Required: Prepare the detailed balance sheet presentation of net realizable value Ramirez Company Current Assets (partial December 31 Current Assets one