If the month-end bank statement shows a balance of $142000, outstanding checks are $47000, a deposit of $18000 was in transit at month end, and a check for $1800 was erroneously charged by the bank against the account, the correct balance in the bank account at month end is

$111200.

$78800.

$114800.

$169200.

Coronado Industries has outstanding accounts receivable totaling $6.49 million as of December 31 and sales on credit during the year of $24.5 million. There is also a credit balance of $11500 in the allowance for doubtful accounts. If the company estimates that 5% of its outstanding receivables will be uncollectible, what will be the amount of bad debt expense recognized for the year?

$1225000.

$313000.

$336000.

$324500.