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The amount of the adjusting entry for uncollectible accounts

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Reference no: EM131125441

At the end of the current year, Accounts Receivable has a balance of $750,000; Allowance for Doubtful Accounts has a credit balance of $11,250; and net sales for the year total $4,150,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $30,000.

Determine 

(1) The amount of the adjusting entry for uncollectible accounts; 

(2) The adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense; and 

(3) The net realizable value of accounts receivable. 

Reference no: EM131125441

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