Jensen corporation uses the percentage-of-sales method to estimate uncollectibles. net credit sales for the current year amount to $ 2,017,000 and management estimates 4% will be uncollectible. the allowance for doubtful accounts prior to adjustment has a debit balance of $ 26,000. after all adjusting entries are made, the balance in allowance for uncollectible accounts will be:

Barney corporation recognized a $100 million preferred stock balance on 12/31/2019. on january 1, 2020, barney issued $10 million in preferred dividends. on the same date, barney raised an additional $20 million via a new issuance of preferred stock. on december 31, 2020, the market value of the original amount of preferred shares rose $5 million. under us gaap, the 12/31/2020 year ending preferred stock balance is: