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At the end of the current year, Accounts Receivable has a balance of $809,120; Allowance for Doubtful Accounts has a credit balance of $7,469; and

At the end of the current year, Accounts Receivable has a balance of $809,120; Allowance for Doubtful Accounts has a credit balance of $7,469; and sales for the year total $3,922,000. Bad debt expense is estimated at 1/2 of 1% of net sales.

a. Determine the amount of the adjusting entry for bad debt expense. $fill in the blank 1

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

Adjusted Balance
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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