Rankine Company estimates its bad debts expense by aging its accounts receivable and applying percentages to various age groups of the accounts. Rankine calculated a total of $9,600 in possible credit losses as of December 31. Accounts Receivable has a balance of $307,200, and the Allowance for Doubtful Accounts has a credit balance of $1,200 before adjustment at December 31 Required:
What is the net amount of accounts receivable that should be included in current assets?

Date  Account titles and Explanation    Debit      Credit

         Bad Debt Expense                         $8,400

                  Allowance for doubtful account            $8,400

                  ($9,600 credit required - $1,200 already existing)

         (To record bad debt expenses)

Particulars                                               Amount

Account receivables                               $307,200

Less: Allowance for doubtful account   $9,600

Net amount of accounts receivable     $297,600

x=3

step-by-step explanation:

this is really simple i saw that there was only one term (5x) and thought if that was 15 what would i have to multiply everything else to get it there? well if 5x became 15 then x would have to be 3 so plug the 3 in the x for the other equations and you get 15 for the other ones. so there you go. : )