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At the end of the current year, Accounts Receivable has a balance of $904,240 Allowance for Doubtful Accounts has a credit balance of $5,812 and

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At the end of the current year, Accounts Receivable has a balance of $904,240 Allowance for Doubtful Accounts has a credit balance of $5,812 and sales for the year tatal $2,865,000. Bad debt expense is estimated at V2 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. Adjusted Balance Accounts Receivable Allowance for Doubtful Accounts Bad Debt Expense c. Determine the net realizable value of accounts receivable

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