m Journal Final Questions Shaded cells 4. Assuming that instead of basing the provision for uncollectible accounts on an analysis of receivables the adjusting entry on December 31 had been based on an estimated expense of of 1% of the sales of $13,200,000 for the year, determine the following A Bad debt expense for the year Points 0/1 B Balance in the allowance account after the adjustment of December 31 $ Points 0/1 C Expected net realizable value of the accounts receivable as of December 31: S Pona Previous Next Check My Work cha... Locator=&inprogress=false TAccounts Joumat Final questions Instructions 2. A. Journalize the transactions. For the December 31 adjusting enty, assume the $1,450,000 balance in accounts receivable reflects the adjustments made during the year. Refer to the chart of accounts for a fisting of the account ates the company uses. B. Post each entry that affects the following selected Taccounts and determine the new balances: Allowance for Doubtel Accounts and Bad Debt Expense. 3. Determine the expected net realizable value of the accounts receivable as of December 31 (after all of the adjustments and the adjusang entry). 4. Assuming that instead of basing the provision for uncollectible accounts on an analysis of receivables the adjusting entry on December 31 had been based on an estimated expense of of 1% of the sales of $13,200,000 for the year, determine the following: A Bad debt expense for the year. B. Balance in the allowance account after the adjusment of December 31 C Expected net realizable value of the accounts receivable as of December 31 510 Cost of Merchandise Sold 123 Accounts Receivable-Iron Horse Co