Requirement a
Amount of Adjusting = Balance required for Allowance for Doubtful account as per aging method+ Current credit balance of Allowance for Doubtful account
Amount of Adjusting = $110,000 + $10,500 = $120,500
Requirement b
Accounts receivable = Same as opening = $2,150,000
Allowance for Doubtful account = Balance required for Allowance for Doubtful account as per aging method = $110,000
Bad debt expense = Amount of Adjusting done in current period = $120,500
Requirement c
Net realizable value of A/R = Accounts receivable adjusted balance - Allowance for Doubtful account adjusted balance
Net realizable value of A/R = $2,150,000 - $110,000 = $2,040,000
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