Bayfiew Corp uses the percentage$-$of$-$receivables basis to record bad debt expense.

$\backslash$table$[[$Accounts receivable $($ending balance$),$$$550,000($debit$)],[$Allowance for doubtful accounts $($unadjusted$),4,200($debit$)]]$

The company estimates that $3\%$ of accounts receivable will become uncollectible.

$($a$)$

Prepare the adjusting journal entry to record bad debt expense for the year. $($List debit entry before credit entry Credit account titles are automatically indented when amount is entered. Do not indent manually li no entry is required, select $"$No Entry" for the account titles and enter ofor the amoumts.$)$

Account Titles and Explanation

Debit

Credit

$($b$)$

What is the ending $($adjusted$)$ balance in Allowance for Doubtful Accounts?

Ending $($adjusted$)$ balance in Allowance for Doubtful Accounts

$($c$)$

What is the cash $($net$)$ realizable value?

Cash $($net$)$ realizable value