Question Viewer lap Company's balance sheet at December $31,2024,$ reported the following:

View the data.

Read the requirements.

Requirement $1.$ How much of the receivables did Swallowtail Map Company expect to collect? Stated differently, what was the net realizable

value of these receivables?

The net realizable value of these receivables is

Data

Accounts Receivable

Requirements

How much of the receivables did Swallowtail Map Company expect

to collect? Stated differently, what was the net realizable value of

these receivables?

Journalize, without explanations, $2025$ entries for

Swallowtail Map Company and post to the Accounts Receivable and

Allowance for Bad Debts T$-$accounts.

a$.$ Total credit sales for $2025$ were $$100,000($ignore Cost of Goods Sold$).$

b$.$ Swallowtail Map Company received cash payments on account during

$2025$ of $$70,000.$

c$.$ Accounts receivable identified to be uncollectible totaled $$8,000.$

Record the adjusting entry to recognize bad debts expense using the

following independent situations, and then post to the Bad Debts Expense

and Allowance for Bad Debts T$-$accounts.

a$.5\%$ of credit sales were estimated to be uncollectible.

b$.$ An aging of receivables indicates that $$4,000$ of the receivables are

estimated to be uncollectible.