Will acetone workas a bearing cleaner?

yep. just throw it in a jar/bowl with your bearings and shake. just don't use it for a soak, because it might start to corrode the bearings (or the jar or bowl). dry them off very well with a hair dryer or compresses air, then throw some lube on. i recommend sewing machine lube, or lube meant for bearings such as bones speed cream.