The following information was used by the long corporation to prepare a cash budget for april: cash balance beginning of april $ 16,000 expected cash receipts in april 272,000 sales salaries paid 62,000 material purchases (all cash) 94,000 depreciation charges 44,000 other expenses (all cash) 96,000 what is the budgeted ending cash balance in april?

The manda panda company uses the allowance method to account for bad debts. at the beginning of 2018, the allowance account had a credit balance of $92,400. credit sales for 2018 totaled $3,190,000 and the year-end accounts receivable balance was $507,500. during this year, $88,500 in receivables were determined to be uncollectible. manda panda anticipates that 3% of all credit sales will ultimately become uncollectible. the fiscal year ends on december 31. required: 1. does this situation describe a loss contingency? 2. what is the bad debt expense that manda panda should report in its 2018 income statement? 3. prepare the appropriate journal entry to record the contingency. 4. complete the table below to calculate the net realizable value manda panda should report in its 2018 balance sheet?