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At the end of the current year

At the end of the current year, the account has a balance of $825,000 and net sales for the year total $9,400,000. Determine the amount of the adjusting entry to provide for doubtful accounts under each of the following assumptions:

a. The allowance account before adjustment has a negative balance of –$11,200. Bad debt expense is estimated at ¼ of 1% of net sales.

b. The allowance account before adjustment has a negative balance of –$11,200. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $36,000.

c. The allowance account before adjustment has a positive balance of $6,000. Bad debt expense is estimated at ½ of 1% of net sales.

d. The allowance account before adjustment has a positive balance of $6,000. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $49,500.

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