Page 2 ACCOUNTING 2101/6101-TESTING YOUR KNOWLEDGE CHAPTER Z 3) The Atilantic Corporation prepares an aging of its accounts recelvable at year-end and reports the following: [Assume all relevant accounts have normal balances.) Accounts receivable balance, 12/31 Allowance for uncollectible accounts (12/31, unadjusted bal.) As per aging analysis, estimate of accounts expected 2,920,000 126,000 to be uncollectible 220,000 REQUIRED (a) What amount should be reported as the net realizable value of accounts receivable on the year-end balance sheet? (b) Prepare the appropriate year-end adjusting entry for the bad debt expense CONTINUETOPAGE3.FORQUESTION #41