Fiber Plus Corporation makes and sells a single product called a Jute. The company is in the process of preparing its Selling and Administrative Expense Budget for the last quarter of the year. The following budget data are available: Variable cost per Jute Sold Monthly Fixed cost Sales Commissions $6.80 Shipping $8.30 Advertising $2.10 $14,000 Executive Salaries $142,000 Depreciation on Office Equipment $1,000 Other $0.70 $32,000 All of these expenses (except depreciation) are paid in cash in the month they are incurred. If the total budget for selling and administrative expense for October is $493,300, then how many Jutes does the company plan to sell in October? 17,200 units 16,700 units 17,500 units 17,000 units

Grey company holds an overdue note receivable of $800,000 plus recorded accrued interest of $64,000. the effective interest rate is 8%. as the result of a court-imposed settlement on december 31, year 3, grey agreed to the following restructuring arrangement: reduced the principal obligation to $600,000.forgave the $64,000 accrued interest.extended the maturity date to december 31, year 5.annual interest of $40,000 is to be paid to grey on december 31, year 4 and year 5. the present value of the interest and principal payments to be received by grey company discounted for two years at 8% is $585,734. grey does not elect the fair value option for reporting the debt modification. on december 31, year 3, grey would recognize a valuation allowance for impaired loans of