The following information is available for Birch Company at December 31:

Money market fund balance	$	2,960
Certificate of deposit maturing June 30 of next year	$	16,700
Postdated checks from customers	$	1,900
Cash in bank account	$	24,131
NSF checks from customers returned by bank	$	820
Cash in petty cash fund	$	370
Inventory of postage stamps	$	35
U.S. Treasury bill purchased on December 15 and maturing on February 28 of following year	$	11,700

Based on this information, Birch Company should report Cash and Cash Equivalents on December 31 of:

Multiple Choice

• $44,196

• $40,241

• $41,881

• $39,161

• $55,861

A company uses the percent of sales method to determine its bad debts expense. At the end of the current year, the company's unadjusted trial balance reported the following selected amounts:

Accounts receivable	$	358,000	debit
Allowance for uncollectible accounts		530	debit
Net Sales		803,000	credit

All sales are made on credit. Based on past experience, the company estimates that 0.3% of net credit sales are uncollectible. What amount should be debited to Bad Debts Expense when the year-end adjusting entry is prepared?

Multiple Choice

• $2,939

• $544

• $2,409

• $1,604

• $1,879