Recording Write-Offs and Computing Net Realizable Value of Receivables Andler Inc. estimates that an allowance of $4,800 is required on its accounts receivable balance of $96,000 on December 31, 2020. a. What is the net realizable value of its accounts receivable on December, 31, 2020? b. On February 1, 2021, the company determined that $1,200 of specific accounts receivable would be written off. Prepare the journal entry required to write-off these accounts. What is the net realizable value of accounts receivable after the write-off? c. On February 15, 2021, the company unexpectedly collected $300 of the accounts written off on February 1, 2021. Prepare the journal entries required upon collection of these accounts. What is the net realizable value of accounts receivable after the collection? a. Net realizable value of receivables on December 31, 2020: $ 4800 b. Cr. Date Account Name Feb. 1, 2021 Bad Debt Expense Allowance for Doubtful Accounts Dr. 1200 0 1200 Net realizable value of receivables on February 1, 2021 $ Account Name Dr. Cr. Date Feb. 15, 2021 0 0 0 0 To reinstate receivable balance Feb. 15, 2021 0 0 0 0 To record cash collection Net realizable value of receivables on February 15, 2021: $ 0