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Analysis of receivables method At the end of the current year, Accounts Receivable has a...

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Accounting

Analysis of receivables method

At the end of the current year, Accounts Receivable has a balance of $765,000; Allowance for Doubtful Accounts has a debit balance of $7,000; and sales for the year total $3,440,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $36,400.

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.

Accounts Receivable:

Allowance for Doubtful Accounts:

Bad Debt Expense:

c. Determine the net realizable value of accounts receivable.

$

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