Chapter 8 Practice Problems #2 Problem \#3 - Analysis of Accounts Receivable Method At the end of the current year, Accounts Receivable has a balance of $12,890,000 : Allowance for Doubtful Accounts has a debit balance of $295,000; and Net Sales for the year total $25,000,000. Using the Analysis of Accounts Receivable Method the balance for the Allowance for Doubtful Accounts is estimated as $375,500. 1) Calculate the dollar amount required to record the allowance amount. 2) Prepare the adjusting journal entry for the Allowance for Doubtful Accounts: 3) Calculate the Net Accounts Receivable Balance Problem \#4 - Analysis of Accounts Receivable Method At the end of the current year, Accounts Receivable has a balance of $9,950,000; Allowance for Doubtful Accounts has a credit balance of $335.695; and Net Sales for the year total $25,000,000, Using the Analysis of Accounts Receivable Method the balance for the Allowance for Doubtful Accounts is estimated as $450,250. 1) Calculate the dollar amount required to record the allowance amount. 2) Prepare the adjusting journal entry for the Allowance for Doubtful Accounts: 3) Calculate the Net Accounts Receivable Balance