1. At the end of the current year, Accounts Receivable has a balance of $3,500,000, Allowance for Doubtful Accounts has a credit balance of $30,750, and sales for the year total $48,400,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $360,000. Determine (a) the amount of the adjusting entry for uncollectible accounts; (b) the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense; and (c) the net realizable value of accounts receivable. Answers: (a) amount of the adjusting entry (bad debts expense) = $ (b) i. adjusted balance for accts receivable = $ ii. adjusted balance for bad debts expense = $ iii. adjusted balance for AFDA = $ (c) NRV a/c receivable adj bal AFDA = $