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t the end of the current year, Accounts Receivable has a balance of $873,730; Allowance for Doubtful Accounts has a credit balance of $5,144; and
t the end of the current year, Accounts Receivable has a balance of $873,730; Allowance for Doubtful Accounts has a credit balance of $5,144; and credit sales for the year total $2,369,000. Bad debt expense is estimated at 1/2 of 1% of credit sales.
a. Determine the amount of the adjusting entry for bad debt expense. fill in the blank 1 of 2$
b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense.
c. Determine the net realizable value of accounts receivable.
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