W 2. Ray's GamePlace sells all the hottest gear and video games. On January 1, 20X7, Ray's had the following account balances: Accounts Receivable Less Allowance for Doubtful Accounts Net Accounts Receivable $27,000 (4,000) $23,000 Record the following journal entries: 1. During 2017, Ray's wrote off $6,000 in uncollectible accounts. 2. During 2017, Ray's made credit sales of $145,000 and collected $115,000 of accounts receivable. 3. At the end of the year, Ray's determines that approximately 7 percent of its ending accounts receivable balance will not be collected. Ray's uses the percentage of receivables method of calculating bad debts. 4. What is Ray's net realizable value for accounts receivable to be shown on the balance sheet at the end of the year. (No journal entry)