Percent of Sales Method At the end of the current year, Accounts Receivable has a balance of $610,000; Allowance for Doubtful Accounts has a credit balance of $5,500; and sales for the year total $2,750,000. Bad debt expense is estimated at 1/4 of 1% of sales. a. Determine the amount of the adjusting entry for uncollectible accounts. $ 20,625 X b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Accounts Receivable $ 610,000 Allowance for Doubtful Accounts 15,125 X Bad Debt Expense 20,625 X c. Determine the net realizable value of accounts receivable. 594,875 X