Schreiber Industries estimates bad debts at 2% of sales. Schreiber began the year with $270,000 of accounts receivable and $38,600 of allowance for bad debts. During the year, Schreiber had sales of $920,000, wrote off bad debts of $26,000, and received cash on account of $905,000. What amount of accounts receivable, net of allowance for bad debts, should appear on the year-end balance sheet?
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