$1.$ Record the January $1$ credit balance of $$50,000$ in a T account for Allowance for Doubtful Accounts.

$2.$ Journalize the transactions. Post each entry that affects the following selected T accounts and determine the new balances:

Allowance for Doubtful Accounts

Bad Debt Expense

$3.$ Determine the expected net realizable value of the accounts receivable as of December $31.$

$4.$ Assuming that instead of basing the provision for uncollectible accounts on an analysis of receivables, the adjusting entry on December $31$ had been based on an estimated expense of $1/2$ of the sales of $$15,800,000$ for the year, determine the following:

a$.$ Bad debt expense for the year

b$.$ Balance in the allowance account after the adjustment of December $31.$

c$.$ Expected net realizable value of the accounts receivable as of December $31.$