Nero Corp.'s financial statements on January 1 include the following balances:

Accounts receivable

1,440,000

Allowance for doubtful accounts (Cr)

60,480

During the year, the following transactions were recorded:

Sales (all on credit)

1,465,000

Bad debt expense

48,384

Write-off of Accounts Receivable

49,734

Collection from Accounts Receivable

1,162,000

Advances from customers

98,400

Prepare the following journal entries that happened during the year:

To record bad debt expense

Dr.

Cr.

To record the write off

Dr.

Cr.

To record the advances from customers

Dr.

Cr.

The ending balance of (gross) Accounts Receivable is:

The ending balance of the Allowance for Doubtful Accounts is:

On December 31, the aging of Accounts Receivable was performed.

The net realizable value of Accounts Receivable is:

1,669,614

Record the Adjusting entry on December 31:

Dr.

Cr.