what would the t balance below be,?

USE YOUR SMARTPHONE FOR des Festes Uncollectible Account Receivables In the Advance Provision Method of accounting for uncollectible accounts the adjusting entry amount can either be based on an estimate of the percent of Sales that will not be collected. The process then, is to multiply the percent by the Sales amount and then debit the expense account and credit the allowance account. 1 Assume our sales for the year totaled $200,000, our Account Receivable balance at the end of the year is $25,000, the Allowance for Uncollectible Accounts balance is $600, and we estimate that 1% of Sales will not be collected. You can use the T-accounts at the bottom of the page to post to. Make the adjusting entry for the estimated uncollectible accounts expense for this year. a b. After the entry is made, what is the "net realizable value (book value) of the Account Receivable account in the Balance Sheet? 2 Assume it has been 6 months since customer John Smith's balance of $400 has been past due and we write it off as an uncollectible account. Make the entry on March 20. 3. Assume it is May 10 and we get a check in the mail from John Smith for $250 in partial payment of what he said he owes us. Make the entry, 4 What would be: The balance of the Allowance account after the May 10 entry? a. b. The balance of John Smith's account after the May 10 entry? Allow. for Uncollect. Accounts 600 Acc'ts Rec.- John Smith 400