Alpha Company uses aging to estimate uncollectibles.  At the end of the fiscal year, December 31, 2016,

Accounts Receivable has a balance that consists of: 

Dollar Value

Age of Account

Estimated Collectible

$125,000 

< 30 days old

98%

85,000 

30 to 60 days old

85%

50,000 

61 to 120 days old

50%

10,000 

> 120 days old

10%

The current unadjusted Allowance for Uncollectable Accounts balance is a credit balance of $1,575 and the Bad Debt Expense accounts has an unadjusted balance of zero. After the adjusting entry is made, what will be the dollar balances in the:

1. Accounts Receivable

2. Allowance for Doubtful Accounts

3. Bad Debt Expense

Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"