Percent of Sales Method At the end of the current year, Accounts Receivable has a balance of $575,000; Allowance for Dou

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Percent of Sales Method
At the end of the current year, AccountsReceivable has a balance of $575,000; Allowance forDoubtful Accounts has a debit balance of $5,000; and sales forthe year total $2,590,000. Bad debt expense is estimatedat 1.25% of sales.
1. Determine the amount of the adjustingentry for uncollectible accounts.$fill in the blank 1
2. Determine the adjusted balances ofAccounts Receivable, Allowance for Doubtful Accounts, and Bad DebtExpense.
3. Determine the net realizablevalue of accounts receivable.$fill in the blank 5