Percent of Sales Method At the end of the current year, Accounts Receivable has a balance of $720,000; Allowance for Doubtful Accounts has a credit balance of $6,500; and sales for the year total $3,240,000. Bad debt expense is estimated at 1/4 of 1% of sales. a. Determine the amount of the adjusting entry for uncollectible accounts. 8,100 b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Accounts Receivable $720,000. Allowance for Doubtful Accounts $1,600.00 X Bad Debt Expense 8,100.00 c. Determine the net realizable value of accounts receivable. $ 718,400. X