Chapter 8 Receivables OW ME HOW BE 8-3 Percent of sales method Obj. 4 At the end of the current year, Accounts Receivable has a balance of $2,150,000; Allowance for Doubtful Accounts has a debit balance of $10,500; and sales for the year total $51,850,000. Bad debt expense is estimated at 14 of 1% of sales. Determine (A) the amount of the adjusting entry for uncollectible accounts; (B) the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense; and (C) the net realizable value of accounts receivable. BE 8-4 Analysis of receivables method Obi: 4