Percent of Sales Method At the end of the current year, Accounts Receivable has a balance of $760,000; Allowance for Doubtfu Accounts has a debit balance of $7,000; and sales for the year total $3,420,000. Bad debt expense is estimated at 1/4 of 1% of sales. Determine the amount of the adjusting entry for uncollectible accounts. 15,550 X $ b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bac Debt Expense. Adjusted Balance Debit (Credit) Accounts Receivable $ 760,000 Allowance for Doubtful Accounts 8,550 Bad Debt Expense 15,550 c. Determine the net realizable value of accounts receivable. $ 751,450 X