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Estimate the amount of the adjusting entry for uncollectible

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Reference no: EM133000927

At the end of the current year, Accounts Receivable has a balance of $535,000; Allowance for Doubtful Accounts has a debit balance of $5,000; and sales for the year total $2,410,000. Bad debt expense is estimated at 1/4 of 1% of sales.

Problem a. Estimate the amount of the adjusting entry for uncollectible accounts.

Problem b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense.

Reference no: EM133000927

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