The following information was obtained from the company's records for the year ended December 31:
Credit sales during the year: $3,200,000
Accounts receivable--December 31: $325,000
Allowance for doubtful accounts--December 31: $35,000
Bad debt expense for the year: $20,000
What amount will the company show on its year-end balance sheet for the net realizable value of its accounts receivable?
$325,000
$305,000
$290,000
$270,000