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Analysis of Receivables Method At the end of the current year, Accounts Receivable has a balance of $865,000; Allowance for Doubtful Accounts has a debit
Analysis of Receivables Method At the end of the current year, Accounts Receivable has a balance of $865,000; Allowance for Doubtful Accounts has a debit balance of $8,000; and sales for the year total $3,890,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $40,800. a. Determine the amount of the adjusting entry for uncollectible accounts. b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Accounts Receivable $ Allowance for Doubtful Accounts A Bad Debt Expense A c. Determine the net realizable value of accounts receivable
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