Credit sales during 2020 1,200,000 Accounts receivable deemed worthless and written off during 2020 27,000 As a result of a review and aging of accounts receivable in early January 2021, it has been determined that an allowance for doubtful accounts of $16,000 is needed at December 31, 2020. What amount should Murphy record as "bad debt expense" for the year ended December 31, 2020? $16,000 a.$13,000 b.$19,000 c.$40,000d.$16,000

It is estimated that over 100,000 students will apply to the top 30 m. b.a. programs in the united states this year. a. using the concept of net present value and opportunity cost, when is it rational for an individual to pursue an m. b.a. degree. b. what would you expect to happen to the number of applicants if the starting salaries of managers with m. b.a. degrees remained constant but salaries of managers without such degrees decreased by 20 percent

Abus pass costs $5 per week. which of the following equations shows the total cost in dollars, t, of the bus pass for a certain number of weeks, w? t = 5w w = 5t t = 5 + w w = 5 + t

Exercise 12-7 shown below are comparative balance sheets for flint corporation. flint corporation comparative balance sheets december 31 assets 2017 2016 cash $ 201,348 $ 65,142 accounts receivable 260,568 225,036 inventory 494,487 559,629 land 236,880 296,100 equipment 769,860 592,200 accumulated depreciation—equipment (195,426 ) (94,752 ) total $1,767,717 $1,643,355 liabilities and stockholders’ equity accounts payable $ 115,479 $ 127,323 bonds payable 444,150 592,200 common stock ($1 par) 639,576 515,214 retained earnings 568,512 408,618 total $1,767,717 $1,643,355 additional information: 1. net income for 2017 was $275,373. 2. depreciation expense was $100,674. 3. cash dividends of $115,479 were declared and paid. 4. bonds payable amounting to $148,050 were redeemed for cash $148,050. 5. common stock was issued for $124,362 cash. 6. no equipment was sold during 2017. 7. land was sold for its book value. prepare a statement of cash flows for 2017 using the indirect method.