8-2-1

I. BE.08-03.ALGO (Algorithmic) Percent of Sales Method the end of the current year, Accouts Receivable has a balance of $585,000; Alowance for Doubtful Acco rts has a credt balance of $5,500; and sales for the year total $2,630,000. Bad debt expense ls estimated at 1/4 of 1% of sales. 1. Determine the amount of the adjusting entry for uncollectible accounts 2. Detemine the adjusted balances or Accounts Recelvable, Alowance for Doubtful Accounts, and Bad Debt Expense. Accounts Recehvable for Doubtful Accounts $ Bad Delt Expense 3. Determine the nelt reaizable val lue of accounts receivab e