At the end of the current year, Accounts Receivable has a balance of $550,000; Allowance for Doubtful Accounts has a credit balance of $5,500; and sales for the year total $2,500,000. An analysis of receivables estimates uncollectible receivables as $25,000. a. Determine the amount of the adjusting entry for bad debt expense. $ b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Adjusted Balance Accounts Receivable $ Allowance for Doubtful Accounts Bad Debt Expense c. Determine the net realizable value of accounts receivable. $

Part A  

Bad debt Adjusting amount = (Estimated uncollectible receivable – Provision)

Bad debt Adjusting amount = ($25,000 − $5,500)

Bad debt Adjusting amount = $19,500

Adjusting amount for bad debts is $19,500.

Explanation

For processing the modifying measure of awful obligation cost, subtract the current arrangement from assessed uncollectible receivables. Here, evaluated uncollectible receivables add up to $25,000 and the current terrible obligation arrangement adds up to $5,500

Part B

Records receivable's balanced parity adds up to $550,000, recompense for suspicious obligations adds up to $25,000 and terrible obligation adds up to $19,500.  

Explanation  

The balanced equalization of records receivable has a parity adding up to $550,000. The recompense for dicey obligations accounts has a balanced equalization of $25,000. It has just been given. Further, the awful obligations add up to $19,500. It has been figured by subtracting arrangement from uncollectible receivables.

Part C  

Net Realizable value = (Accounts receivable – Allowance for doubtful debts)

Net Realizable value = ($550,000 − $25,000)

Net Realizable value =$525,000

Net realizable value of accounts receivable amounts to $525,000.

Explanation

For figuring the net feasible estimation of records receivable, subtract stipend for dubious records from money due. Here, money due sums to $550,000, a stipend for dubious record adds up to $25,000. This outcomes in a net feasible estimation of $525,000.

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explanation:

c

explanation:

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