OB1.4 449 PE 9-38 Percent of sales method At the end of the current year, Accounts Receivable has a balance of $3,460,000, Allow ance for Doubtful Accounts has a debit balance of $12,500, and sales for the year toal $46,300,000. Bad debt expense is estimated at of 1% of sales. Determine (a) the amount of the adjusting entry for uncollectible accounts; (b) the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense; and (c) the net realizable value of accounts receivable. QUES HUNO PAGE 466 PE9-3B At the end of the current year, Accounts Receivable has a balance of $3.460,000. Allowance for Doubtful Accounts has a debit balance of $12 500 and sales for the year total $46,300,000 Bad deb expense is estimated at 1/2 of 1% of Sales Determine the amount of the adjusting entry for uncollectible accounts O 46,300,000 0.231,500 @ 4.600 000 3,460,000 PAGE 466 PE9-3B At the end of the current year, Accounts Receivable has a balance of $3,460,000. Allowance for Doubtful Accounts has a debit balance of $12,500 and sales for the year total $46,300,000. Bad deb expense is estimated at 1/2 of 1% of Sales Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts and Bad Debt Expense O Accounts Receivable = 3,460,000 Allowance for Doubtful Accounts = 219,000 Bad Debt Expense = (231500) Accounts Receivable = 46,300,000 Allowance for Doubtful Accounts = (219,000) Bad Debt Expense = 231,500 Accounts Receivable = 3,460.000 Allowance for Doubtful Accounts = (219.000) Bad Debt Expense = 231 500 Accounts Receivable = 3.460.000 Allowance for Doubtful Accounts = 219 500) Bad Debt Expense = 231.500 PAGE 466 PE9-3B At the end of the current year, Accounts Receivable has a balance of $3,460,000. Allowance for Doubtful Accounts has a debit balance of 512,500 and sales for the year total $46,300,000. Bad deb expense is estimated at 1/2 of 1% of Sales Determine the net realizable value of Accounts Receivable 46,300,000 4 630.000 3 460 000 3241,000