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Analysis of Receivabies Method At the end of the current year, Accounts Receivable has a balance of $820,000; Aliowance for Doubtful Accounts has a credit
Analysis of Receivabies Method At the end of the current year, Accounts Receivable has a balance of $820,000; Aliowance for Doubtful Accounts has a credit balance of $7, so0; and sales for the year total \$3,690,000. Using the aging method, the balance of Alowance for Doubtful Accounts is estimated as $36,000. a. Determine the amount of the adjusting entry for uncoliectible accounts. x b. Determine the adjusted balances of Accounts Receivable, Alowance for Doubtful Accounts, and Bad Debt Expense. c. Determine the net reatrable value of aceounts recelvatic. x Analysis of Receivabies Method At the end of the current year, Accounts Receivable has a balance of $820,000; Aliowance for Doubtful Accounts has a credit balance of $7, so0; and sales for the year total \$3,690,000. Using the aging method, the balance of Alowance for Doubtful Accounts is estimated as $36,000. a. Determine the amount of the adjusting entry for uncoliectible accounts. x b. Determine the adjusted balances of Accounts Receivable, Alowance for Doubtful Accounts, and Bad Debt Expense. c. Determine the net reatrable value of aceounts recelvatic. x
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