The chief financial officer for Cast in Stone concrete products had previously established a line of credit with a local bank that enables Cast in Stone to borrow 85% of the company's inventory balance. The company currently has 1,200 units in stock, and is performing "on budget."

The budget anticipated that direct labor cost would be $18 per hour, and factory overhead is applied to production based on $8.00 per direct labor hour.

Each unit requires 3 labor hours and 900 pounds of direct material. The direct material costs $0.20 per pound.

Determine the amount of credit available under the borrowing agreement.

A.
Total available under line of credit

265,000.00

B.
Total available under line of credit

262,310.00

C.
Total available under line of credit

263,160.00

D.
Total available under line of credit

26,360.00

E.
Total available under line of credit

261650.00

Swathmore clothing corporation grants its customers 30 days' credit. the company uses the allowance method for its uncollectible accounts receivable. during the year, a monthly bad debt accrual is made by multiplying 3% times the amount of credit sales for the month. at the fiscal year-end of december 31, an aging of accounts receivable schedule is prepared and the allowance for uncollectible accounts is adjusted accordingly. at the end of 2012, accounts receivable were dollar 586.000 and the allowance account had a credit balance of dollar 50,000. accounts receivable activity for 2013 was as follows: the company's controller prepared the following aging summary of year-end accounts receivable: prepare a summary journal entry to record the monthly bad debt accrual and the write-offs during the year. (if no entry is required for a particular event, select "no journal entry required" in the first account field.) prepare the necessary year-end adjusting entry for bad debt expense. (if no entry is required for an event, select "no journal entry required" in the first account field.) what is total bad debt expense for 2013? calculate the amount of accounts receivable that would appear in the 2013 balance sheet?