8: RECORD THE ADJUSTING ENTRY? 453 PE 9-3B Percent of sales method OBJ.4 At the end of the current year, Accounts Receivable has a balance of $4,770,000, Allow- ance for Doubtful Accounts has a debit balance of $17,230, and sales for the year total $63,800,000. Bad debt expense is estimated at % of 1% of sales. 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.