Cangage w2One X + mw. comment/teman.net Show Me How Calculator Analysis of Receivables Method At the end of the current year Accounts Receivable has a balance of $3,750,000, Allowance for Doubtful Accounts has a credit balance of $22,750, and sales for the year total $48,400.000. Using the aging method, the balance of Allowance for Doubtful Account is estimated as $390,000 a. Determine the amount of the adjusting entry for uncollectible accounts $ 19.000 x Determine the adjusted balance of Accounts Receivable, Alowance for Doubtful Accounts, and ad Debit pense Accounts Receivable $ 3,750,000 Allowance for Doubtful Accounts 390,000 Bad Debt Expense 167,250 Determine the net realizable value of accounts receivable, $ 3,360,000 The analysis of receivables method is based on the assumption that the longer an account receivable is outstanding the less likely that it will be collected The amount of the adjusting entry is the amount that will yield an adjusted balance for Alowance for Doubtful Accounts Check My Work 70 AM DELL CangaNOW2 x cangagenow.comrevient sugmentMandolinomimnissements son t een has a credit balance of $22,750, and sa At the end of the current year,counts Receivable has a balance of $3,750,000, Allowance for Debt for the year total $41,400,000 Bad Debt Expenses estimated at of 1% of sales a. Determine the amount of the austing entry for uncollectible accounts $361.000 Expen Dutermine the adjusted balances of Accounts Receivable, lowance for Double Accounts, and Bad Adjustad Balance Debit (Credit) Accounts Receivable 3,750,000 Allowance for Doutil Accounts $ 385,750 Bad Debt Expense 363,000 Determine the net realisable value of accounts 363,000 X 2. Remember that since accounts receivable are created by credit cales, un collectable accounts can be estimated as a percent of credit as if the portion of credit sales to sales is relatively constant, the percent may be applied to total sales b. Under the percent of sales method, the amount of the adjusting entry is the amount estimated for Badett Expense Check. My Work Previous Next > AAR 2:10 AM