Sunland Company uses the percentage-of-receivables basis to record bad debt expense. Accounts receivable (ending balance) $570,000 (debit) Allowance for doubtful accounts (unadjusted) 5,500 (debit) The company estimates that 2% of accounts receivable will become uncollectible. (a) Prepare the adjusting journal entry to record bad debt expense for the year. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (b) What is the ending (adjusted) balance in Allowance for Doubtful Accounts? Ending (adjusted) balance in Allowance for Doubtful Accounts $ (c) What is the cash (net) realizable value?

1. The Journal entry is shown below:-

2. $11,400

3. $558,600

Explanation:

The Journal Entry is shown below:-

Bad debt expense = (Accounts receivable ending balance × Percentage estimated as uncollectible) + Existing debit balance in allowance for doubtful accounts

= $570,000 × 2% + 5,500

= $11,400 + 5,500

= $16,900

Bad debt expense Dr,                                $16,900  

        To Allowance for doubtful accounts        $16,900

(Being bad debt expense is recorded)

2. The ending balance in Allowance for doubtful accounts = Accounts receivable ending balance × Percentage estimated as uncollectible

= 570,000 × 2%

= $11,400

3. Cash net realized value = Account receivable - The ending balance in Allowance for doubtful accounts

= $570,000 - $11,400

= $558,600

answer'; i believe the correct answer is (15,000) workers a year are treated for injuries caused by jacks, lifts or jack stands;

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know