Patricia had net sales (all on account) in 2020 of $870000. At December 31, 2020, before adjusting entries, the balances in selected accounts were: accounts receivable $1070000 debit, and allowance for doubtful accounts $1860 debit. Patricia estimates that 4% of its accounts receivable will prove to be uncollectible. What is the net amount expected to be collected of the receivables reported on the financial statements at December 31, 2020?

$1027200

$1025340

$44660

$1029060