Francine and Pierre have a combined monthly net income of $2,700. Their fixed monthly expenses include $220 for Francine’s student loan payment and $82 for the stereo they bought last month. Francine and Pierre would like to buy a new car. How much can they currently afford for monthly car payments and still maintain a safe debt load?

Exercise 7-7 martinez company reports the following financial information before adjustments. dr. cr. accounts receivable $168,900 allowance for doubtful accounts $3,200 sales revenue (all on credit) 849,300 sales returns and allowances 50,440 prepare the journal entry to record bad debt expense assuming martinez company estimates bad debts at (a) 4% of accounts receivable and (b) 4% of accounts receivable but allowance for doubtful accounts had a $1,550 debit balance. (if no entry is required, select "no entry" for the account titles and enter 0 for the amounts. credit account titles are automatically indented when the amount is entered. do not indent manually.)