At the end of the current year,Accounts Receivablehas a balance of $870,000;Allowance for Doubtful Accountshas a credit

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At the end of the current year,Accounts Receivablehas a balance of $870,000;Allowance for Doubtful Accountshas a credit balance of $8,000; and sales for the year total $3,920,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $29,600.

a.Determine the amount of the adjusting entry for uncollectible accounts.

$fill in the blank 1

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

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 thenet realizable valueof accounts receivable.

$fill in the blank 5

Posted Date: Jun 22, 2024 08:06 AM

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At the end of the current year,Accounts Receivablehas a balance of $870,000;Allowance for Doubtful Accountshas a credit

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