On January 1 a company had a beginning accounts receivable balance of $120,000 and a beginning credit balance in the allowance for uncollectible accounts of $12,000. During the year they had total credit sales of $200,000 and collected $150,000 cash from customers. They did not have any write-offs during the year. At the end of the year, the company performs an adjusting entry to account for their uncollectible accounts receivable. The company will reserve 10% of their unadjusted accounts receivable balance at the end of the year. What amount of Bad Debt expense will be recorded for the year

In early january, burger mania acquired 100% of the common stock of the crispy taco restaurant chain. the purchase price allocation included the following items: $4 million, patent; $3 million, trademark considered to have an indefinite useful life; and $5 million, goodwill. burger mania's policy is to amortize intangible assets with finite useful lives using the straight-line method, no residual value, and a five-year service life. what is the total amount of amortization expense that would appear in burger mania's income statement for the first year ended december 31 related to these items?