A series of unrelated situations follow:
1. Atlantic Inc.'s unadjusted trial balance at December 31, 2017, included the following accounts (accounted for using ASPE):

2. An analysis and aging of Central Corp.'s accounts receivable at December 31, 2017, disclosed the following:
Amounts estimated to be uncollectible .......................... $ 160,000
Accounts receivable ................................................ 1,790,000
Allowance for doubtful accounts (per books) ..................... 125,000
3. Western Co. provides for doubtful accounts based on 4.5% of credit sales. The following data are available for 2017:
Credit sales during 2017 ............................................................ $3,200,000
Allowance for doubtful accounts 1/1/17 ............................................... 37,000
Collection of accounts written off in prior years
(customer credit was re-established) .................................................... 18,000
Customer accounts written off as uncollectible during 2017 ........................ 36,000
4. At the end of its first year of operations, on December 31, 2017, Pacific Inc. reported the following information:
Accounts receivable, net of allowance for doubtful accounts ..................... $950,000
Customer accounts written off as uncollectible during 2017 ........................... 24,000
Bad debt expense for 2017 ................................................................. 92,000
5. The following accounts were taken from Northern Inc.'s unadjusted trial balance at December 31, 2017:

Instructions
(a) For situation 1, Atlantic estimates its bad debt expense to be 1.5% of net sales. Determine its bad debt expense for 2017.
(b) For situation 2, what is the net realizable value of Central Corp.'s receivables at December 31, 2017?
(c) For situation 3, what is the balance in Allowance for Doubtful Accounts at December 31, 2017?
(d) For situation 4, what is the balance in Accounts Receivable at December 31, 2017, before subtracting the allowance for doubtful accounts?
(e) For situation 5, if doubtful accounts are 7% of accounts receivable, what is the bad debt expense amount to be reported for 2017?

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Debit $ 8,000 60,000 Credit Allowance for doubtful accounts Sales revenue Sales returns and allowances Sales discounts $1,980,000 4,400 Debit Credit $950,000 Sales revenue (all on credit) Sales discounts Allowance for doubtful accounts Accounts receivable $21,400 34,000 610,000