1. The following data relate to accounts receivable of Steadfast Companyfor the year 2020:

Accounts receivable, January 1 700,000

Credit sales 3,000,000

Sales returns 15,000

Accounts written off 50,000

Collection from customers, excluding recovery 2,500,000

Allowance for doubtful accounts, January 1 35,000

Twenty (20%) percent of accounts previously written off in prior years was collected, but the customer credit was not reestablished yet. Steadfast estimated that 5% of the accounts receivable at year-end is doubtful of collection.

How much is the net realizable value of accounts receivable on December 31, 2020?