Percent of Sales Method

At the end of the current year, Accounts Receivable has a balance of $$3,750,000,$ Allowance for Doubtful Accounts has a credit balance of $$22,750,$ and sales for $$48,400,000.$ Bad Debt Expense is estimated at $\frac{3}{4}$ of $1\%$ of sales.

a$.$ Determine the amount of the adjusting entry for uncollectible accounts.

$

b$.$ Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense.

Adjusted Balance

Debit $($Credit$)$

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