At the end of the current year, Accounts Receivable has a balance of $3,000,000; Allowance for Doubtful Accounts has a debit balance of $475,000; and Net Sales for the year total $6,500,000. Bad Debt Expense is estimated at 3/4 of 1% of Net Sales.

1. Calculate the dollar amount required to record the allowance amount.
2. Prepare the adjusting journal entry for the Allowance for Doubtful Accounts:

Date	Accounts	Dr	Cr

3. Calculate the Net Accounts Receivable Balance