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Accounts Receivable has a balance of $645,000; Allowance for Doubtful Accounts has a credit balance of $6,000; and sales for the year total $2,900,000. Bad debt expense is estimated at 1/4 of 1% of sales.

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1. The amount of the adjusting entry for Uncollectible Accounts is $1,250.

2. The adjusted balances of Accounts Receivable Allowance for Doubtful Accounts Bad Debt Expense are:

Accounts Receivable = $3,545,000

Allowance for Doubtful = $7,250

Accounts Bad Debt Expense = $1,250

3. The net realizable value of the accounts receivable is $3,537.750 ($3,545,000 - $7,250).

Data and Calculations:

                               Accounts Receivable    Allowance for Doubtful Accounts

Beginning balance     $645,000 DR               $6,000 CR

Sales                          2,900,000

Bad Debt Estimate = $7,250 ($2,900,000 x 0.0025)

Ending balance      $3,545,000                     $7,250 CR

Bad Debts Expense = $1,250 ($7,250 - $6,000)

Thus, the net realizable value of the accounts receivable shows the amount that the company expects to recover from customers after allowing for doubtful accounts.

Learn more about determining the net realizable value of accounts receivable at https://brainly.com/question/13767014

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Question Completion:

1. Determine the amount of the adjusting entry for uncollectible accounts.

2. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expenses.

3. Determine the net realizable value of accounts receivable

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