1- Craigmont uses the allowance method to account for uncollectible accounts. Its year-end unadjusted trial balance shows Accounts Receivable of $104,500, allowance for doubtful accounts of $665 (credit) and sales of $925,000. If uncollectible accounts are estimated to be 4% of accounts receivable, what is the amount of the bad debts expense adjusting entry?

2- Physical counts of inventory: Select one: a. Requires the use of hand-held portable computers. b. Are not necessary under the perpetual system. c. Must be taken at least once a month. d. Are necessary to adjust the Inventory account to the actual inventory available