Homework Answers
| Answer |
| (a) Amount of the adjusting entry for uncollectible accounts = $30000 - $7,500 = $22500 |
| (b) Accounts Receivable = $800,000 |
| Allowance for Doubtful Accounts = $7,500 + $22500 = $30000 |
| Bad Debt Expense = $22500 |
| (c) Net realizable value = $800,000 - $30000 = $770000 |
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