Percent of Sales Method At the end of the current year, Accounts Receivable has a balance of $600,000 Allowance for Doubtful Accounts has a credit balance of $5,500 and sales for the year total $2,700,000 Bad debt expense is estimated at 1 25 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) Accounts Receivable $ Allowance for Doubtful Accounts $ Bad Debt Expense $ c Determine the net realizable value of accounts receivable $ Percent of Sales Method At the end of the current year, Accounts Receivable has a balance of $600,000 Allowance for Doubtful Accounts has a credit balance of $5,500 and sales for the year total $2,700,000 Bad debt expense is estimated at 1 25 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) $ Accounts Receivable Allowance for Doubtful Accounts Bad Debt Expense A A c Determine the net realizable value of accounts receivable

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Percent of Sales Method At the end of the current year, Accounts Receivable has a balance of $600,000; Allowance for Doubtful Accounts has a credit

Percent of Sales Method

At the end of the current year, Accounts Receivable has a balance of $600,000; Allowance for Doubtful Accounts has a credit balance of $5,500; and sales for the year total $2,700,000. Bad debt expense is estimated at 1.25% 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)
Accounts Receivable	$
Allowance for Doubtful Accounts	$
Bad Debt Expense	$

c. Determine the net realizable value of accounts receivable. $

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Percent of Sales Method At the end of the current year, Accounts Receivable has a balance of $600,000; Allowance for Doubtful Accounts has a credit balance of $5,500; and sales for the year total $2,700,000. Bad debt expense is estimated at 1.25% 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) $ Accounts Receivable Allowance for Doubtful Accounts Bad Debt Expense A A c. Determine the net realizable value of accounts receivable