Percent of Sales Method At the end of the current year, Accounts Receivable has a balance of $515,000) Allowance for Doubtful Accounts has a credit balance of $4,500; and sales for the year total $2.320,000. Bad debt expense is estimated at 1/4 of 1% of sales 1. Determine the amount of the adjusting entry for uncollectible accounts. 14,900 X Accounts Receivable 2. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bud Debt Expense. 515,000 Allowance for Doubtful Accounts 4,500 X Bad Debt Expense 5,750 X 3. Determine the net realizable value of accounts receivable. 508,750 X