The following information is related to December 31, 2016 balances. Accounts receivable $700,000 . Allowance for doubtful accounts 60,000 Cash realizable value 640,000 During 2017 sales on account were $195,000 and collections on account were $115,000. Also, during 2017 the company wrote off $15,000 in uncollectible accounts. Past experience indicates that the allowance should be 10% of the balance in receivables (percentage-of-receivables basis). Cash realizable value on December 31, 2017 is: O $702,000. O $769,000. O $688,500. O $692,100. O $640,000