h. At December 31, 2020, the end of its fiscal year, Bumblebee Nurseries, Inc. determines the allowance for doubtful accounts account balance should reflect an estimation of bad debts of $7,000 based on the aging of receivables. Before adjustment, the following account balances were subtotaled in the general ledger: Bad debts expense, $12,000 debit balance Allowance for doubtful accounts, $9,000 credit balance Accounts Receivable, $354,000 debit balance (1) Write the necessary adjustment for bad debts expense at December 31. Date Account Name Debit Credit (2) What is the net realizable value of accounts receivable to be reported on the 12/31/20 balance sheet? Pace. Go8_ACCE2110 - Test Raven (Page 30 points) 1. Oates Company had the following transactions. Record the journal entries necessary on Oates Company's books. Assume Oates uses the periodic inventory method. (1) March 1, 2020. Oates Company sold $10,000 of merchandise to new customer, Hall Company, on terms 3/10, 1/30 Date Account Name Debit Credit (2) March 5, 2020. Hall Company returned $1,000 of merchandise from their purchase on March 1. Date Account Name Debit Credit (3) March 8, 2020. Oates Company received payment less early payment discount from Hall Company for balance due on existing accounts receivable. Date Account Name Debit Credit