Given the additional information presented below:
a. Prepare on December 31, 2022, the adjusting journal entry for bad debts expense.
b. Prepare a partial balance sheet on December 31, 2022, showing how net realizable value is calculated.
c. If the balance in Allowance for Doubtful Accounts were a $500 debit balance, journalize the adjusting entry for bad debts expense on December 31, 2022.

Balances: Cash, $16,400; Accounts Receivable, $106,000; Allowance for Doubtful Accounts, $700 credit; Inventory, $53,700.

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Additional Information Not yet due 0-30 0-60 61-180 Over six months Amount $ 76,000 12,000 8,000 4,000 6,000 $106,000 Dominion Company December 31, 2022 Estimated Percentage Considered to Be Bad Debts Expense 1 2 6 13 30 Estimated Amount Needed in Allowance for Doubtful Accounts