Hi, I need help with this Thank you Analysis of Receivables Method the current y

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Hi,
I need help with this
Thank you

Analysis of Receivables Method the current year, Accounts Receivable has a balance of $830,000; Allowance for Doubtful Accounts ha s a credit balance of $7,500; and sales for the year total $3,740,000. Using the aging method, the balance of ance for Doubtful Accounts is estimated as $33,000 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 Accounts Receivable Allowance for Doubtful Accounts Bad Debt Expense c. Determine the net realizable value of accounts receivable. Expense. Preious Next Check My Work 3 more Check My Work uses remaining ve and ExitSubrmit Pasignment for Grading ssi0nment Score: 48% 1007 PM 4 4/28/2018

Explanation / Answer

a) Amount for uncollectible account 25500 b) Accounts receivable 830,000 Allowance for doubtful accounts 33,000 Bad debts expense 25500 c Net realizable value 797,000 2) Note receivable a) Due date 28-Aug (30-9)+31+30+31+28 b) maturity value of the note 12360 (12000+12000*9%*120/360) c) Cash 12,360 interest income 360 note receivable 12,000

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