What is the net realizable value of the accounts receivable

Question

Shimi Inc. experienced the following transactions for 2013, its first year of operations:

1. Issued common stock for $60,000 cash. 
2. Purchased $135,000 of merchandise on account. 
3. Sold merchandise that cost $97,000 for $280,000 on account.
4. Collected $255,000 cash from accounts receivable. 
5. Paid $122,000 on accounts payable. 
6. Paid $47,000 of salaries expense for the year. 
7. Paid other operating expenses of $21,000. 
8. Shimi adjusted the accounts using the following information from an accounts receivable aging schedule:

Required:

 a. Record the above transactions in general journal form and post to T-accounts. 

b. Prepare the income statement, statement of changes in stockholders equity, balance sheet, and statement of cash flows for Shimi Inc. for 2013. 

c. What is the net realizable value of the accounts receivable at December 31,2013?