Percent of sales method At the end of the current year, Accounts Recelvable has a...
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Percent of sales method At the end of the current year, Accounts Recelvable has a balance of $585,000; Allowance for Doubtful Accounta has a debit balance of $5,500; and sales for the year total $2,630,000, Bad debt expense is estimated of 1/4 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. c. Determine the net realizable valie af acronunts recelvahia. x
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