At the end of the current year, the trial balance of Aarons Kitchen Supply Corporation included the accounts and balances shown below. Credit sales were $5,550,000. Returns and allowances on these sales were $46,500. Assume that the firm bases its estimate of the loss from uncollectible accounts on 4% of accounts receivable.

Accounts Receivable	$	745,000	Dr.
Allowance for Doubtful Accounts		6,400	Cr.
Sales		7,950,000	Cr.
Sales Returns and Allowances		93,000	Dr.

What is the balance in the Allowance for Doubtful Accounts account after the adjusting entry for the estimated loss from uncollectible accounts is posted?

What is the amount of the adjusting entry for the estimated loss from uncollectible accounts?

\begin{tabular}{|l|l|} \hline Allowance for doubtful accounts \\ \hline Amount of adjusting entry & \\ \hline \end{tabular}