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2) At the end of the current year, Accounts Receivable has a balance of $800,000, Allowance for Doubtful Accounts has a $7,500 credit balance and
2) At the end of the current year, Accounts Receivable has a balance of $800,000, Allowance for Doubtful Accounts has a $7,500 credit balance and Sales for the year are $3,500,000. Bad Debts Expense is estimated at 1/2 of 1% of Sales. Determine the arount of the adjusting entry for uncollectible accounts:$___. Determine the net realizable value of accounts receivable after the above adjusting entry is made: $_-------- Using the same information as above except that Bad Debts are estimated using the Analysis or Aging method to be $30,000. Determine the arount of the adjusting entry for uncollectible accounts
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