ingage gnment-take&norogress-; QSearch … Show He How At the rd t the current yea

Question

ingage gnment-take&norogress-; QSearch … Show He How At the rd t the current year. Accounts Recare able has balance at S770,000; Allawanca ter Dcubttui Accounts nas dabr balance at s7,coo; and tales tor the yaar total $3,47D,CO. Bad debt axnense estmated at 1/4 ct 15s ct tales. 2. FE U-02 ALGO a. Determne the amount at the aducting antry tor uncellact ble account: b. Dctermne the adusted balbnccs of Accounts Rccanabie, Alowancc for Doutthui Accounts, and Bad Debt Expans. 5. PE.09-05 ALGO Allowance fur Doubtful Acccurnts Ead Deht ExpensR Progress:35 Items 2 mare Ceck y orkuzes remaning Prevous Mext signment score:00% Save and Exit Submit Assignment for Grading

Explanation / Answer

a Amount of adjusting entry=3470000*0.25%= 8675 b Accounts receivable 770000 Allowance for doubtful account 1675 Bad debts expense 8675 c Net realizable value = 770000-1675= 768325

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