Please answer this equation and include the steps.

A portion of the current assets section of the December 31, 2019, balance sheet for Gibbs Co. is presented here: Accounts receivable Lot Allowance for bad debts $24.700 (3.700) $21,000 The company's accounting records revealed the following Information for the year ended December 31, 2020: Sales (all on account) Canh collection from customers Account written off Dad debts expenne (accrued at 12/31/20) $164,000 149,000 3,500 6,000 Required: Calculate the net realizable value of accounts receivable at December 31, 2020, and prepare appropriate balance sheet presentation for Gibbs Co. as of that point in time. (Hint Use T-accounts to analyze the Accounts Receivable and Allowance for Bad Debts accounts.) Al December 31, 2070 Accounts receivable Los Allowance for bad debts Accounts receivable (Net) $ 0