Please answer!

Cary Inc. reported net credit sales of $300,000 for the current year. The unadjusted credit balance in its Allowance for Doubtful Accounts is $500. The company has experienced bad debt losses of 1% of credit sales in prior periods. Using the percentage of credit sales method, what amount should the company record as an estimate of Bad Debt Expense?

$2,500

$3,000

$2,980

$3,200

Blossom Inc. has an unadjusted debit balance of $3,500 in its Allowance for Doubtful Accounts. The company has experienced bad debt losses of 2% of credit sales in prior periods. Blossom reported net credit sales of $1,500,000 for the current period. The required journal entry to record Bad Debt Expense should include a debit to:

Allowance for Doubtful Accounts for $30,000.

Allowance for Doubtful Accounts for $33,500.

Bad Debt Expense for $33,500.

Bad Debt Expense for $30,000.

Cody Enterprises purchased equipment for $64,000. In addition, shipping charges of $800 were incurred to obtain the equipment. The company paid $5,000 to construct a foundation and install the equipment. The equipment is estimated to have a residual value of $6,000 at the end of its 5-year useful life.

Use the information above to answer the following question. Using the straight-line method, what is the amount of depreciation expense each year?

$13,960

$13,800

$12,760

$11,960

Use the information above to answer the following question. Using the straight-line method, what is the book value of the equipment at the end of the third full year of use?

$31,520

$22,120

$28,400

$25,520

Accounts Receivable, Net (or Net Accounts Receivable) equals Accounts Receivable (gross) minus:

Cost of Goods Sold.

Bad Debt Expense.

Allowance for Doubtful Accounts.

Current Liabilities.