b)The percentage of receivables method is used and an analysis of the accounts produces an estimate of $5,725 in uncollectible accounts

Accounting Jan 21, 2021

b)The percentage of receivables method is used and an analysis of the accounts produces an estimate of $5,725 in uncollectible accounts. entry, leave it blank. Page: DATE ACCOUNT TITLE DOC. POST. NO. REF. DEBIT CREDIT 1 20-- Dec. 31 Bad Debt Expense 5,305 x 1 Allowance for Doubtful Accounts 2 5,305 X 2 3 3 Feedback Check My Work Partially correct Accounts receivable, December 31, 20-- 29,725 Less allowance for doubtful accounts 5,305 X Net realizable value $ 24,420 x

Expert Solution

Journal entry

Date	Account and explanation	Debit	Credit
Dec 31	Bad debt expense (5725+420)	6145
	Allowance for doubtful accounts		6145
	(To record bad debt expense)

Account receivable December 31	29725
Less; Allowance for doubtful account	-5725
Net realizable value	24000

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