Business, 18.07.2020 01:01 jadfavors4321

Percent of Sales Method At the end of the current year, Accounts Receivable has a balance of $430,000; Allowance for Doubtful Accounts has a credit balance of $4,000; and sales for the year total $1,940,000. Bad debt expense is estimated at 1/4 of 1% of sales. 1. Determine the amount of the adjusting entry for uncollectible accounts. $ 2. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Accounts Receivable $ 430,000 Allowance for Doubtful Accounts $ Bad Debt Expense $ 4,850 3. Determine the net realizable value of accounts receivable.

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Percent of Sales Method At the end of the current year, Accounts Receivable has a balance of $430,00...

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