Superior Company has provided you with the following information before any year-end adjustments:

• Net credit sales are $120,000.
• Historical percentage of credit losses is 2%.
• Allowance for doubtful accounts has a credit balance of $300.
• Accounts receivables ending balance is $47,000.

What is the estimated bad debt expense using the percentage of credit sales method?

(4pts)

	$2,100.
	$2,400.
	$940.
	$2,700.

5)

The Roscoe Company's March 31, 2016 bank statement balance was $70,000. As of March 31, 2016, outstanding checks total $22,000 and deposits in transit total $15,000. What was the March 31, 2016 cash balance on Roscoe's books?

(4pts)

	$63,000.
	$77,000.
	$70,000.
	$107,000.