.At the end of the current year, Accounts Receivable has a balance of $865,000; Allowance for Doubtful Accounts has a debit balance of $8,000; and sales for the year total $3,890,000. Bad debt expense is estimated at 3/4 of 1% of sales.
a. Determine the amount of the adjusting entry for uncollectible accounts.
$
b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense.
Adjusted Balance
Debit (Credit)
Accounts Receivable $
Allowance for Doubtful Accounts $
Bad Debt Expense $
c. Determine the net realizable value of accounts receivable.
$