d$)$ Finney sold old storage sheds to Alt Traders on $3/31.$ Alt Traders gave a $$2,500$ promissory note to Finney agreeing to pay for the sheds in $3$ months.

e$)$ Other current assets totaled $$50,000.$

Finney received no cash arising from the above transactions during March. Based only on the above transactions, and ignoring beginning balances, compute the accounts receivable as a percentage of the total current assets as of month end.

$4-$ Byrd Co$.$ uses the percentage$-$of$-$receivables basis to record bad debt expense and concludes that $2\%$ of accounts receivable will become uncollectible. Accounts receivable are $$400,000$ at the end of the year, and the allowance for doubtful accounts has a credit balance of $$2,800.$

a$)$ record bad debt expense for the year.

b$)$ If the allowance for doubtful accounts had a debit balance of $$900$ instead of a credit balance of $$2,800,$ compute bad debt expense.