Required information Problem 7-20A (Algo) Accounting for uncollectible accounts: percent of receivables allowance method LO 7-2, 7-3 [The following information applies to the questions displayed below.] Roth Incorporated experienced the following transactions for Year 1, its first year of operations: 1. Issued common stock for $80,000 cash. 2. Purchased $235,000 of merchandise on account. 3. Sold merchandise that cost $154,000 for $306,000 on account. 4. Collected $252,000 cash from accounts receivable. 5. Paid $220,000 on accounts payable. 6. Paid $62,000 of salaries expense for the year. 7. Paid other operating expenses of $51,000. 8. Roth adjusted the accounts using the following information from an accounts receivable aging schedule. Problem 7-20A (Algo) Part c c. What is the net realizable value of the accounts receivable at December 31 , Year 1