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 value of accounts receivable. ### Percent of Sales MethodAt the end of the current year, **Accounts Receivable** has a balance of $425,000, **Allowance for Doubtful Accounts** has a debit balance of $4,000, and sales for the year total $1,910,000. Bad debt expense is estimated at 1.1% of sales.#### a. Determine the amount of the adjusting entry for uncollectible accounts.```$___________________ X```#### b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense.``` Adjusted Balance Debit (Credit)Accounts Receivable $ 425,000 ✔️``````Allowance for Doubtful Accounts $ __________________ X``````Bad Debt Expense $ __________________ X```#### c. Determine the net realizable value of accounts receivable.```$ __________________ X```---#### Feedback1. **Check My Work:** **a.** Remember that since accounts receivable are created by credit sales, uncollectible accounts can be estimated as a percent of credit sales. If the portion of credit sales to sales is relatively constant, the percent may be applied to total sales. **b.** Under the percent of sales method, the amount of the adjustment is the amount estimated for Bad Debt Expense. **c.** Remember that net realizable value is the amount that is expected to be collected or realized.

Name: a. Determine the amount of the adjusting entry for uncollectible acco
Uploaded: 2022-11-23T13:49:29.000Z
Channel: Bartleby
Description: 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 value of accounts receivable