8. At the end of the current year Accounts Receivable has a balance of $1,975,000; Allowance for Doubtful Accounts has a credit balance of $19,670; and sales for the year total $28,550,000. Bad Debts expense is estimated to be 34 of 1% of sales. Management uses the Percent of sales method. Determine the following a) The amount of the adjusting entry for uncollectible accounts b) The adjusted balance of Accounts Receivable c) The adjusted balance of Allowance for Doubtful accounts d) Bad Debt Expense e) Net Realizable value of Accounts Receivable 9. At the end of the current year, Accounts Receivable has a balance of $1,975,000; Allowance for Doubtful Accounts has a credit balance of $19,670; and sales for the year total $28,550,000. Using the aging method the balance of Allowance for Doubtful Accounts is estimated as $225,000. Determine the following a) The amount of the adjusting entry for uncollectible amounts b) The adjusted balances of Accounts Receivable c) The adjusted balance of Allowance for Doubtful accounts d) Bad Debt Expense e) Net realizable value of accounts receivable 10.Lexi Company received a 60 day 5% note for $54,000 dated July 12 from a customer on account. Determine a) The due date of the note b) The maturity value of the note c) The journal entry to record the receipt of payment of the note at maturity