At the end of the current year, Accounts Receivable for the Forever Your's Company has a balance of $412.500; Allowance for Doubtful Accounts has a credit balance of $4, 125 before adjustment; and net sales for the sear total $1, 875,000. An analysis of receivables estimates uncollectible receivables as $1 8, 750. Determine the amount of the adjusting entry for bad debt expense and the final net realizable value of the Accounts Receivable, respectively for the Forever Your's Company. An element of internal control is subsidiary ledgers risk assessment journals controlling accounts Which of the following items would affect the overall cost of merchandise inventory purchased during the period? trade discounts cash discounts (2/10, net 30) freight-in all of these items Ready Company uses the allowance method to account for uncollectible receivables. Ready has determined that the Living Company account is uncollectible. To write-off this account. Ready Company should debit Bad Debt Expense and credit Accounts Receivable Accounts receivable and credit Allowance for Doubtful Accounts Bad Debt Expense and credit Allowance for Doubtful Accounts Allowance for Doubtful Accounts and credit Accounts Receivable You have just received a notice that Johnson Controls Company, a customer of your company, with an Accounts Receivable balance of $24, 450 has gone bankrupt and will not make any future payments. Assuming you use the allowance method, the entry you make is to debit Allowance for Doubtful Accounts and credit Bad Debt Expense debit Bad Debt Expense and credit Accounts Receivable. debit Bad Debt Expense and credit Allowance for Doubtful Accounts. debit Allowance for Doubtful Accounts and credit Accounts Receivable