Roe's Renovations utilizes the direct write-off method of accounting for uncollectible receivables. On September 15 the company is notified by the attorneys for Jacob Marley that Jacob Marley is bankrupt and no cash is expected in the liquidation. Write off the $3,330 of accounts receivable due from Jacob Marley. If an amount box does not require an entry, leave it blank. Sept. 15 38 Moyo Chead.com At the end of the current year, Accounts Receivable has a balance of $116,120; Allowance for Doubtful Accounts has a debit balance of $3,340; and sales for the year total $1,145,000. Bad debt expense is estimated at 1/2 of 1% of sales. a. Determine the amount of the adjusting entry for bad debt expense. b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Accounts Receivable Allowance for Doubtful Accounts Adjusted Balance Bad Debt Expense c. Determine the net realizable value of accounts receivable. ne teaching and le Search Results | Course Hero 1. Roe's Renov | Chegg.com 1. Roe's Renov | Chegg.com A new machine with a purchase price of $80,304, with transportation costs of $8,170, installation costs of $5,638, and special acquisition fees of $2,219, would have a cost basis of Ca. $85,942 b. 196,331 c. $80,304 Od. $88,161 If a fixed asset, such as a computer, were purchased on January 1st for $2,314 with an estimated life of 7 years and a salvage or residual value of $169, the journal entry for monthly expense under straight-line depreciation is Da. Accumulated Depreciation 25.54 Depreciation Expense 25.54 b. Depreciation Expense 306.43 Accumulated Depreciation 306.43 c. Depreciation Expense 25.54 Accumulated Depreciation. 25.54 d. Accumulated Depreciation 306.43 Depreciation Expense 306.43