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Determine the net realizable value of accounts receivable

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At the end of the current year, Accounts Receivable has a balance of $945,000; Allowance for Doubtful Accounts has a credit balance of $8,500; and sales for the year total $4,250,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $38,300.

Question a. Determine the amount of the adjusting entry for uncollectible accounts.

Question 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 $

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

Reference no: EM132469955

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