The following information is from the records of Chicago Photography:

Accounts Receivable, December 31, 2019	$ 24,000 (debit)
Allowance for Bad Debts, December 31, 2019 prior to adjustment	600 (debit)
Net credit sales for 2019	93,000
Accounts written off as uncollectible during 2019	500

Bad debts expense is estimated by the agingminusofminusreceivables method. Management estimates that $2750 of accounts receivable will be uncollectible. Calculate the amount of net accounts receivable after the adjustment for bad debts.

A.21250

B.20150

C21850

D20650

2. Orbit Services, Inc. pays $ 740000 to acquire 32% (200,000 shares) of the voting stock of State Investments, Inc. on January 5, 2019. State Investments, Inc. declares and pays a cash dividend of

$ 5.40 per share on June 14, 2019. Which of the following is the correct journal entry for the transaction on June 14, 2019?

A. Equity investments state investments, Inc 1026000

Cash 1026000

B. Cash 1026000

Dividend Revenue 1026000

C. Cash 1026000

Retained Earnings 1026000

D. Cash 1026000

Equity investments State Investments, Inc 1026000