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Harvest Company has the following December 31 General Ledger Account Balances after adjustments relating to Sales and Receivables: Sales $18,000 (of which 40% are credit

Harvest Company has the following December 31 General Ledger Account Balances after adjustments relating to

Sales and Receivables: Sales $18,000 (of which 40% are credit sales still outstanding)

Sales returns and Allowances $1,000

Miscellaneous Receivables $1,212

Allowance for Doubtful Accounts $1,502

Long term Receivables $9,014

Advances to Shareholders and Directors $3,804

Notes Receivables $2,903 (Current Portion)

Bad Debt Expense is estimated as 4% of credit sales

Required 1: Assuming no other transaction happened, what is the Bad Debt Expense reported on Decmber 31st? $

Required 2: Assuming no other transaction happened, what is the adjusted net balance of all current Receivables at December 31st? $

Required 3: Assuming no other transaction happened, what is the adjusted net balance of Accounts Receivables at December 31st? $

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