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  3. ase c. at the end of current year, the unadjusted

ase C. At the end of current year, the unadjusted trial balance of Samuels, Inc.,...

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Accounting

ase C. At the end of current year, the unadjusted trial balance of Samuels, Inc., indicated $5,838,000 in Accounts Receivable, a credit balance of $8,800 in Allowance for Doubtful Accounts, and Sales Revenue (all on credit) of $160,530,000. Based on knowledge that the current economy is in distress, Samuels increased its bad debt rate estimate to 0.5 percent on credit sales. 1. What amount of bad debt expense should be recorded for current year?

2. What amount will be reported on the current year's balance sheet for accounts receivable?

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