At the end of the current year, Accounts Receivable has a balance of $765,000; Allowance for Doubtful Accounts has a debit balance of $7,000; and sales for the year of $3,440,000. Bad debt expense is estimated at 3/4 at 1% of sales.

eBook Show Me How Calculator Print Item Percent of Sales Method At the end of the current year, Accounts Receivable has a balance of $ 765,000; Allowance for Doubtful Accounts has a debit balance of $7,000; and sales for the year total $3,440,000. Bad debt expense is estimated at 3/4 of 1% of sales. a. Determine the amount of the adjusting entry for uncollectible accounts. 25,800 b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Adjusted Balance Debit (Credit) Accounts Receivable $765,000 32,800 X Allowance for Doubtful Accounts Bad Debt Expense 25,800 c. Determine the net realizable value of accounts receivable. $ 732,200 X Feedback Check My Work