Percent of Sales Method At the end of the current year, Accounts Receivable has a balance of $410,000; Allowance for Doubtful Accounts has a debit balance of $3,500; and sales for the year total $1,850,000. Bad debt expense is estimated at 1/4 of 1% of sales. 1. Determine the amount of the adjusting entry for uncollectible accounts. 2. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Accounts Receivable 410,000 Allowance for Doubtful Accounts Bad Debt Expense 3. Determine the net realizable value of accounts receivable. U * Assignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false ge in Mail-Ava Wallace... Transactions for buyer and seller Instructions Chart of Accounts-Shore Co. Journal-Shore Co. Chart of Accounts-Blue Star Co. Instructions On March 1, Shore Co. sold merchandise to Blue Star Co. on account, $112,000, terms FOB shipping point, 2/10, n/30. The cost of the merchandise sold is $67,200, Shore Co. paid freight of $1,800 and on March 9 received the amount due. Journalize the entries for Shore Co. and Blue Star Co. for the sale, purchase, and payment of the amount due. Refer to the appropriate company's Chart of Accounts for exact wording of account titles. Chart of Accounts-Shore Co. CHART OF ACCOUNTS M