Percent of Sales Method At the end of the current year, Accounts Receivable has a balance of $870,000; Allowance for Doubtful Accounts has a credit balance of $8,000; and sales for the year total $3,920,000. Bad debt expense is estimated at 1/4 of 1% of sales. a. Determine the amount of the adjusting entry for uncollectible accounts. 49,000 X b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Accounts Receivable $ 870,000 Allowance for Doubtful Accounts $ 41,000 X Bad Debt Expense 48,000 X c. Determine the net realizable value of accounts receivable. $ 829,000 X