eBook Show Me How Percent of Sales Method At the end of the current year, Accounts Receivable has a balance of $605,000; Allowance for Doubtful Accounts has a debit balance of $5,500; and sales for the year total $2,720,000. Bad debt expense is estimated at 1/4 of 1% of sales. a. Determine the amount of the adjusting entry for uncollectible accounts. b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Accounts Receivable Allowance for Doubtful Accounts Bad Debt Expense c. Determine the net realizable value of accounts receivable. Previous Next Check My Work Submit Test for Grading Email Instructor All work saved. 74F Sunny ^ @ @ la 237 PM 3/26/2022 O IOI Analysis of Receivables Method At the end of the current year, Accounts Receivable has a balance of $945,000; Allowance for Doubtful Accounts has a credit balance of $8,500; and sales for the year total $4,250,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $37,400. a. Determine the amount of the adjusting entry for uncollectible accounts. b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Accounts Receivable Allowance for Doubtful Accounts Bad Debt Expense c. Determine the net realizable value of accounts receivable. Previous Next Check My Work Submit Test for Gradi Email Instructor All work saved. 2:37 3/26 74F Sunny O