Otto Graham is the accountant for Ohio Corporation who is reviewing the accounts receivables of the company at the end of the calendar year. At this date, a $1,275,000 balance is owed to Ohio Corporation with a balance in the allowance account for $75,000. It has been brought to Ottos attention that the customer, Jim Brown, who owes $15,000 will not be able to pay and the account is written-off. What is the net realizable value of the receivables before the write-off and after the write-off?