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Problem 4 At the end of the current year, Accounts Receivable has a balance of $2,800,000, Allowance for Doubtful Accounts has debit balance of $15,000,

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Problem 4 At the end of the current year, Accounts Receivable has a balance of $2,800,000, Allowance for Doubtful Accounts has debit balance of $15,000, and sales for the year total $10,000,000. Bad Debt Expense is estimated at / of 1% of sales. Instructions: Using the Percentage of sales method determine: a. The amount of the adjusting entry for uncollectible accounts b. The adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense; and c. The net realizable value of accounts receivable d. Show your work below

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