accounting question

Chap_8 Thompson Corporation's unadjusted trial balance includes the following balances (assume normal balances): - Accounts receivable $1,865,000 -Allowance for doubtful accounts $ 35,500 Bad debts are estimated to be 6% of outstanding receivables. What amount of bad debt expense will the company record? a. $119,400 b. $76,400 c. $74,270 (1. $114,030 The ledger of the Ramirez Company at the end of the current year shows Accounts Receivable of $200,000. Instructions (3) If Allowance for Doubtful Accounts has a credit balance of $3,000 in the trial balance and bad debts are expected to be 8% of accounts receivable, journalize the adjusting entry for the end of the period. (Show all calculations.) (b) If Allowance for Doubtful Accounts has a debit balance of $3,000 in the trial balance and bad debts are expected to be 8% of accounts receivable, journalize the adjusting entry for the end of the period. (Show all calculations.) Account Titles Chap_9 Forcum Company reports the following information (in millions) during a recent year: net sales, 5512,4085; net earnings, $344.9; total assets, ending, $4,312.6; and total assets, beginning, $4,254.3. Instructions Calculate the (1) return on assets, (2) asset turnover, and (3) prot margin ratios. (1) Return on assets \"/6 (2) Asset turnover = times (3) Prot margin %