Question: 4. Analysis of Receivables Method. Given the info below, please enter the correct answer to the blank spaces _______?_____ At the end of the current

4. Analysis of Receivables Method. Given the info below, please enter the correct answer to the blank spaces "_______?_____"

At the end of the current year, Accounts Receivable has a balance of $685,000; Allowance for Doubtful Accounts has a credit balance of $9,000; and net sales for the year total $7,400,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $50,000.

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 $_______?_____
Allowance for Doubtful Accounts $_______?_____
Bad Debt Expense $_______?_____

c. Determine the net realizable value of accounts receivable. $_______?_____

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