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Analysis of Receivables Method At the end of the current year, Accounts Receivable has a balance of $440,000, Allowance for Doubtful Accounts has a debit

Analysis of Receivables Method

At the end of the current year, Accounts Receivable has a balance of $440,000, Allowance for Doubtful Accounts has a debit balance of $4,000, and sales for the year total $1,980,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $18,400.

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. $fill in the blank 5

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