The following accounts were taken from CH Inc.s ledger at December 31st (the end of the fiscal year):

Net credit sales $750,000

Allowance for doubtful accounts $14,000 debit

Accounts Receivable $410,000

If doubtful accounts are 3% of accounts receivable, determine the net realizable value of accounts receivable at the end of the fiscal year ended December 31.

(Please be very detailed and explain what you do to get the answer). Thanks