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Analysis of Receivables Method At the end of the current year, Accounts Receivable has a balance of $430,000; Allowance for Doubtful Accounts has a debit
Analysis of Receivables Method At the end of the current year, Accounts Receivable has a balance of $430,000; Allowance for Doubtful Accounts has a debit balance of $4,000; and sales for the year total $1,940,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $18,800 a. Determine the amount of the adjusting entry for uncollectible accounts. $14,800 b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense $430,000 Accounts Receivable Allowance for Doubtful Accounts Bad Debt Expense 18,800 C. Determine the net realizable value of accounts receivable. Submit Answer Try Another Version
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