Sheffield Corp. had a 1/1/20 balance in the Allowance for Doubtful Accounts of $41500. During 2020, it wrote off $29000 of accounts and collected $7900 on accounts previously written off. The balance in Accounts Receivable was $840000 at 1/1 and $920000 at 12/31. At 12/31/20, Sheffield estimates that 6% of accounts receivable will prove to be uncollectible. What is Bad Debt Expense for 2020?

Jordan, inc. sells fireworks. the company’s marketing director developed the following cost of goods sold budget for april, may, june, and july. april may june july budgeted cost of goods sold $62,000 $72,000 $82,000 $88,000 jordan had a beginning inventory balance of $3,000 on april 1 and a beginning balance in accounts payable of $14,600. the company desires to maintain an ending inventory balance equal to 15 percent of the next period’s cost of goods sold. jordan makes all purchases on account. the company pays 65 percent of accounts payable in the month of purchase and the remaining 35 percent in the month following purchase. required prepare an inventory purchases budget for april, may, and june. determine the amount of ending inventory jordan will report on the end-of-quarter pro forma balance sheet. prepare a schedule of cash payments for inventory for april, may, and june. determine the balance in accounts payable jordan will report on the end-of-quarter pro forma balance sheet.