Analysis of Receivables Method

At the end of the current year, Accounts Receivable has a balance of $770,000; Allowance for Doubtful Accountshas a credit balance of $7,000; and sales for the year total $3,470,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $30,800.

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

c. Determine the net realizable value of accounts receivable.