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Harvest Company has the following December 31 General Ledger Account Balances after adjustments relating to Sales and Receivables: Sales $40,500 (of which 40% are credit

Harvest Company has the following December 31 General Ledger Account Balances after adjustments relating to Sales and Receivables:

Sales $40,500 (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 $4,794

Notes Receivables $2,903 (Current Portion)

Bad Debt Expense is estimated as 4% of credit sales.

Required I Assuming no other transaction happened, what is the Bad Debt Expense reported on December 31st? $

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

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

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