Problem 8 - A Accts Receivable At December 31 of the current year, Spring Green Company's accounts reflect the following balances. 120,000 Bad Debts Expense and Allowance for Doubtful Accounts Accounting Principles I (ACC 111) Receivables (Chapter 8) Homework Problems Allowance for Doubtful Accounts 2,000 Accounts Receivable Using the aging method, the balance of Allowance for Doubtful Accounts is estimated at $9,000. Requirements: 1) Prepare the adjusting journal entry, on December 31, to record the estimated amount of uncollectible accounts. Bad Debts Expense 2) Determine the adjusted balances of the following accounts: Allowance for Doubtful Accounts Sales $ 700,000 $ $ 3) Determine the net realizable value of accounts receivable at December 31.

Accounting Principles I (ACC 111) Receivables (Chapter 8 ) Homework Problems Problem 8 - A Bad Debts Expense and Allowance for Doubtful Accounts At December 31 of the current year, Spring Green Company's accounts reflect the following balances. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated at $9,000. Requirements: 1) Prepare the adjusting journal entry, on December 31 , to record the estimated amount of uncollectible accounts. 3) Determine the net realizable value of accounts receivable at December 31