654,000O Accounts Receivable Modern Times, Inc., had, on its 12-31-2010 balance sheet the following amounts: 12/gyn Accounts receivable Allowance for doubtful accounts $ 365,000. ( debit ) 18,000. (credit) BAD Be E. Allo Transactions in 2011included: Accounts receivable of $ 925,400, were collected. cred 2. Sales on account amounted to $ 978,300. and sales returns were $ 28,200. 3. Customer accounts totaling $ 35,700. were written off during the year. credit What is the net realizable value of accounts receivable on 1-1-2011? B. Assuming that the allowance for doubtful accounts at the end of the year needs to be 6% of gross accounts receivable, prepare the bad debt expense adjusting journal entry for 31-2011