Percent of Sales Method At the end of the current year, Accounts Receivable has a balance of $2,150,000; Allowance for Doubtful Accounts has a debit balance of $10,500; and sales for the year total $51,850,000. Bad Debt Expense is estimated at 1/4 of 1% of sales. a.  Determine the amount of the adjusting entry for uncollectible accounts.$ b.  Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Accounts Receivable $ Allowance for Doubtful Accounts $ Bad Debt Expense $ c.  Determine the net realizable value of accounts receivable.$

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Percent of Sales Method

At the end of the current year, Accounts Receivable has a balance of $2,150,000; Allowance for Doubtful Accounts has a debit balance of $10,500; and sales for the year total $51,850,000. Bad Debt Expense is estimated at 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.

Accounts Receivable $
Allowance for Doubtful Accounts $
Bad Debt Expense $

c.  Determine the net realizable value of accounts receivable.
$

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