Percent of Sales Method At the end of the current year, Accounts Receivable...
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Accounting
Percent of Sales Method
At the end of the current year, Accounts Receivable has a balance of $ Allowance for Doubtful Accounts has a credit balance of $ and sales for the year total $ Bad Debt Expense is estimated at of of sales.
a Determine the amount of the adjusting entry for uncollectible accounts.
$fill in the blank
b Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense.
Adjusted Balance
Debit Credit
Accounts Receivable $fill in the blank
Allowance for Doubtful Accounts $fill in the blank
Bad Debt Expense $fill in the blank
c Determine the net realizable value of accounts receivable.
$fill in the blank
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