At the end of the current year the accounts receivable

Reference no: EM13614694

At the end of the current year, the accounts receivable accounthas a balance of $650,000, and net sales for the year total$5,500,000. Determine the amount of the adjustment for doubtful accounts under each of the following assumptions:

The allowance account before adjustment has a negative balanceof $3,175. Bad debt expense is estimated at ¼ of 1% ofnet sales.
The allowance account before adjustment has a negative balanceof $4,600. An aging of the accounts in the customer'sledger indicates estimated doubtful accounts of $17,500.
The allowance account before adjustment has a positive balanceof $8,100. Bad debt expense is estimated at ½ of 1% ofnet sales.
The allowance account before adjustment has a positive balanceof 8,100. An aging of the accounts in the customer'sledger indicates estimated doubtful accountas of $24,650.

Reference no: EM13614694

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