1. Renard has outstanding accounts recievable totaling $2.3 million as of December 31 and sales on credit during the year of $15 million. There is also a debit balance of $38,000 in the allowance of doubtful accounts. If the company estimates that 6% of its net credit sales will be uncollectible, what will the balance in the allowance for doubtful accounts after the year end adjustment to record bad debt expense?
2. Before year end adjusting entries, Paris Corp's account balances at December 31 2016 for accounts receivable and the related allowance for doubtful accounts were $142,000 and $18,000, respectfully. An aging of accounts recievable indicated that $25,500 of the December 31 recievables are expected to be uncollectible. What is the net realizable value of accounts recievable after adjustment is made?