Test $4-$ Chapter's $788$

At the end of the current year, Accounts Receivable has a balance of $$786,760$; Allowance for Doubtful Accounts has a credit balance of $$6,118$; and credit sales for the year total $$3,775,000.$ Bad debt expense is estimated at $\frac{1}{2}$ of $1\%$ of credit 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

Adlowance for Doubtful Accounts

Bad Debt Expense

c$.$ Determine the net realizable value of accounts receivable.

$