Flyer Company has provided the following information prior to any year-end bad debt adjustment: Cash sales, $154,000 Credit sales, $454,000 Selling and administrative expenses, $114,000 Sales returns and allowances, $34,000 Gross profit, $494,000 Accounts receivable, $145,000 Sales discounts, $18,000 Allowance for doubtful accounts credit balance, $1,600 Flyer prepares an aging of accounts receivable and the result shows that 3% of accounts receivable is estimated to be uncollectible. What is the balance in the allowance for doubtful accounts after bad debt expense is recorded

Peppy roaney believes that pizza is a much more versatile dish than most people realize. as the national marketing manager for pizza guys, he observed how consumers were delighted with barbecue pizza, hawaiian pizza, mexican pizza and other unique combinations. his suggestions for other unusual pizzas, however, were met with a negative response by his superiors. even some of his colleagues laughed at his ideas. peppy's confidence in his ability to understand the market has led him to focus on planning a business of his own. peppy realizes that he will take a risk when he leaves his job with pizza guys and embarks upon a new venture: peppy's pizzazzeria. peppy is excited about the potential of profitably catering to the unmet desires of pizza consumers. peppy is confident that peppy's pizzazzeria will be a success, but only if he has enough money to do things right. since peppy has very little personal wealth, he knows he must obtain financial assistance. in order to prepare for meetings with bankers and p

Torino company has 1,300 shares of $50 par value, 6.0% cumulative and nonparticipating preferred stock and 13,000 shares of $10 par value common stock outstanding. the company paid total cash dividends of $3,500 in its first year of operation. the cash dividend that must be paid to preferred stockholders in the second year before any dividend is paid to common stockholders is:

Match the type of agreements to their descriptions. will trust living will prenuptial agreement