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Accounting
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Analysis of Recelvables Method At the end of the current year, Accounts Recelvable has a balance of $755,000; Allowance for Doubtful Accounts has a credit balance of $7,000; and sales for year total $3,400,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $30,800. a. Determine the amount of the adjusting entry for uncoliectible accounts. x b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. c. Determine the net realizable value of accounts recelvable. x
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