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Analysis of Receivables Method At the end of the current year, Accounts Receivable has a...

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Accounting

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Analysis of Receivables Method At the end of the current year, Accounts Receivable has a balance of $590,000; Allowance for Doubtful Accounts has a credit balance of $5,500; and sales for the year total $2,660,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $22,000. 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 $590,000 Allowance for Doubtful Accounts $ 22,000 Bad Debt Expense c. Determine the net realizable value of accounts receivable. $ 568,000

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