Sales $34,500 (of which 40% are credit sales still outstanding)

Sales returns and Allowances $1,000

Allowance for Doubtful Accounts $1,502

Bad Debt Expense is estimated as 4% of outstanding credit sales at period end

Advances to Shareholders and Directors $4,530

Long term Receivables $9,014

Miscellaneous Receivables $1,212

Notes Receivables $2,903 (Current Portion)

Required 1: Assuming no other transaction happened, what is the Bad Debt Expense reported on Decmber 31st? $

Required 2: Assuming no other transaction happened, what is the adjusted net balance of all current Receivables at December 31st? $

Required 3: Assuming no other transaction happened, what is the adjusted net balance of Accounts Receivables at December 31st? $