Dart created an irrevocable trust naming larson as trustee. the trust provided that the trust income would be paid to frost for 15 years, with the principal then reverting to dart. larson died after 10 years, frost died after 20 years, and dart died after 22 years. when does the trust terminate? a. after 10 years. b. after 15 years. c. after 20 years. d. after 22 years. e. indefinitely.

The manda panda company uses the allowance method to account for bad debts. at the beginning of 2018, the allowance account had a credit balance of $92,400. credit sales for 2018 totaled $3,190,000 and the year-end accounts receivable balance was $507,500. during this year, $88,500 in receivables were determined to be uncollectible. manda panda anticipates that 3% of all credit sales will ultimately become uncollectible. the fiscal year ends on december 31. required: 1. does this situation describe a loss contingency? 2. what is the bad debt expense that manda panda should report in its 2018 income statement? 3. prepare the appropriate journal entry to record the contingency. 4. complete the table below to calculate the net realizable value manda panda should report in its 2018 balance sheet?