On January 1, Guillen Corporation had 90,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $5 per share. During the year, the following occurred. Apr. 1 Issued 21,500 additional shares of common stock for $18 per share.
June 15 Declared a cash dividend of $3 per share to stockholders of record on June 30.
July 10 Paid the $3 cash dividend.
Dec. 1 Issued 1,000 additional shares of common stock for $19 per share.
15 Declared a cash dividend on outstanding shares of $1.90 per share to stockholders of record on December 31.
Prepare the entries to record these transactions.

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?