The account balances of Assen Company at December 31, 2017, the end of the current year, show Accounts le $180,000; Allowance for Doubtful Accounts $2,200 (credit); Sales $1,420,000; Sales Returns and Allow- s50,000; and Sales Discounts $20,000. ances Instructions ord the adjusting entry at December 31, 2017, assuming bad debts are estimated to be (1) a) Rec h Calculate the net realizable value of the accounts receivable for each approach to estimating uncollectible () Assume instead that the Allowance for Doubtful Accounts had a debit balance of $2,600 at December 31,2017 10% of accounts receivable, and (2) 1.5% of net sales. accounts in part (a) above. What is bad debt expense for 2017, and what is the net realizable value of the accounts receivable at December 31, 2017, assuming bad debts are estimated to be (1) 10% of accounts receivable, and (2) 1.5% of net sales