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At the end of the period, Accounts Receivable has a balance of $700,000. Using the analysis of receivables method, it was estimated that uncollectible accounts

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At the end of the period, Accounts Receivable has a balance of $700,000. Using the analysis of receivables method, it was estimated that uncollectible accounts will be $23,500. The unadjusted balance of Allowance for Doubtful Accounts is a $3,500 credit balance. (a) What is the journal entry to estimate bad debt for the year? Account Debit Credit AFDA (b) What will be the final adjusted balances of the following accounts after this entry is made? Accounts Receivable Allowance for Doubtful Accounts Bad Debt Expense (c) Compute the net realizable value of Accounts Receivable as presented on the balance sheet Net Realizable Value

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