Given the following informaation, what would the company report as their Bad Debt Expense for this period? The company uses the percentage of sales method Based on previous experience, the company uses 3% The company currently has a balance in the Allowance for Doubtful Accounts of $3,148 The company has $177,432 worth of credit sales this period A law firm recently purchaseed an old fast food restaurant in hopes of converting it into a new office space. The building needed extensive remodeling to suit their new purpose and there were several pieces of equipment which had been left behind that the law firm sold to nearby restaurants. The amounts are listed below. What amount should the law firm list as the value of their newly purchased building? Purchase price Cost to convert into office space Proceeds from sale of restaurant equipment $1,418,296 $64,990 $11,082