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Sage Inc. experienced the following transactions for 2018, its first year of operations: 1.Issued common stock for $110,000 cash. 2.Purchased $195,000 of merchandise on account.

Sage Inc. experienced the following transactions for 2018, its first year of operations:

1.Issued common stock for $110,000 cash.

2.Purchased $195,000 of merchandise on account.

3.Sold merchandise that cost $148,000 for $294,000 on account.

4.Collected $264,000 cash from accounts receivable.

5.Paid $175,000 on accounts payable.

6.Paid $66,000 of salaries expense for the year.

7.Paid other operating expenses of $82,000.

8.Sage adjusted the accounts using the following information from an accounts receivable aging schedule:

Number of Days Past Due

Amount

Percent Likely to Be Uncollectible

Allowance Balance

Current

$

18,000

0.01

0-30

7,500

0.05

31-60

1,500

0.10

61-90

1,500

0.20

Over 90 days

1,500

0.50

  1. What is the net realizable value of the accounts receivable at December 31, 2018?

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