Chapter 8 Practice Problems Problem #9 - Analysis of Accounts Receivable Method At the end of the current year, Accounts Receivable has a balance of $6,000,000; Allowance for Doubtful Accounts has a credit balance of $50,000; and Net Sales for the year total $18,000,000. Using the Analysis of Accounts Receivable Method the balance for the Allowance for Doubtful Accounts is estimated as $125,000. 1) Calculate the dollar amount required to record the allowance amount. 2) Prepare the adjusting journal entry for the Allowance for Doubtful Accounts: Date Accounts Dr Cr 3) Calculate the Net Accounts Receivable Balance Problem #10 - Analysis of Accounts Receivable Method At the end of the current year, Accounts Receivable has a balance of $400,000; Allowance for Doubtful Accounts has a credit balance of $1,800; and Net Sales for the year total $6,000,000. Using the Analysis of Accounts Receivable Method the balance for the Allowance for Doubtful Accounts is estimated as $80,000. 1) Calculate the dollar amount required to record the allowance amount. 2) Prepare the adjusting journal entry for the Allowance for Doubtful Accounts: Date Accounts Dr 3) Calculate the Net Accounts Receivable Balance