at the end of the current year accounts receivable has a balance of 2 150 000 allowa 4137838

February 10, 2021/in Business Homework Help Online /by Joseph

At the end of the current year, Accounts Receivable has a balance of $2,150,000; Allowance for Doubtful Accounts has a debit balance of $10,500; and sales for the year total $51,850,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $110,000. Determine

(a) The amount of the adjusting entry for uncollectible accounts;

(b) The adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense; and

At the end of the current year Accounts Receivable has

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