Frankel Inc. experienced the following transactions for 2014, its first year of operations: 1. Issued common stock for $60,000 cash.2. Purchased $210,000 of merchandise on account.3. Sold merchandise that cost $165,000 for $310,000 on account.4. Collected $278,000 cash from accounts receivable.5. Paid $190,000 on accounts payable.6. Paid $46,000 of salaries expense for the year.7. Paid other operating expenses of $62,000.8. Frankel adjusted the accounts using the following information from an accounts receivable aging schedule.

Number of Days

Past DueAmountPercent Likely to

Be UncollectibleAllowance

Balance Current$15,700 .01 0?30 8,500 .05 31?60 4,000 .10 61?90 2,600 .20 Over 90 days 1,200 .50

What is the net realizable value of the accounts receivable at December 31, 2014?