1. Depreciation is not recorded on which of the following?

2. Stan loaned $10,000 to Jimmy and received a 90 day note. Stan is the ______ of the note.

3. At the end of the year the unadjusted trial balance of a corporation included the following accounts:

Net Sales $400,000

Accounts Receivable 60,000

Allowance for Doubtful Accounts 800 credit

If this company estimates bad debt s expense to be 1% of Sales, how much should the company record for the Bad Debts Expense at December 31?