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At the end of the current year, Accounts Recievable has a balance of 700,000; Allowance for doubtful accounts has a credit balance of $5500; and

At the end of the current year, Accounts Recievable has a balance of 700,000; Allowance for doubtful accounts has a credit balance of $5500; and net sales foee the year 3,500,000. Bad debt expense is estimated at 1/2 of 1% of net sales. Determine: (a) Amount of adjusting entry for uncollectible accounts $_________________ (b) Adjust balance of Accounts Receivable $____________________ allowance od doubful Accounts $____________________ Bad Debt Expense $____________________ (c) Net realizable value of accounts recievable $_______________

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