Gourdeau Co. uses an aging schedule to determine its estimated uncollectible accounts at December 31. Complete the following schedule and determine the required balance in the allowance for doubtful accounts and the net realizable value of the accounts receivable.

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Number of Days Estimated Uncollectible Accounts Accounts Receivable $265,000 70,000 45,000 20,000 $400,000 Estimated % Uncollectible 196 4% 10% 20% Outstanding 0-30 days 31-60 days 61-90 days Over 90 days Total