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At December 31, 2010. Accounts Receivable has a balance of $850,000; Allowance for Doubtful Accounts has a credit balance of $2.750; and net sales for

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At December 31, 2010. Accounts Receivable has a balance of $850,000; Allowance for Doubtful Accounts has a credit balance of $2.750; and net sales for the car total $4,000,000. Bad debt expense is estimated at 1/2 of 1% of net sales. Using the Analysis of Receivables method for estimating uncollectible accounts, determine the following: the amount of the adjusting entry for uncollectible accounts: prepare the adjusting journal entry to record the uncollectible amounts: the adjusted balances of: Accounts Receivable Allowance of Doubtful Accounts Bad Debt Expense the net realizable value of accounts receivable

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