Analysis of Receivables Method

At the end of the current year, Accounts Receivable has a balance of $830,000; Allowance for Doubtful Accounts has a debit balance of $7,500; and sales for the year total $3,740,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $28,500.

a. Determine the amount of the adjusting entry for uncollectible accounts. $fill in the blank 1

b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense.

Accounts Receivable$fill in the blank 2Allowance for Doubtful Accounts$fill in the blank 3Bad Debt Expense$fill in the blank 4

c. Determine the net realizable value of accounts receivable. $fill in the blank 5