On its recent financial statements, Deacon Co. reported the following information about net sales revenue and accounts receivable (amounts in thousands):
December 31. December 31,
2020
2019
$13,589
$11,338
Accounts receivable, net of allowances of $153 at
December 31, 2020 and $117 at December 31, 2019
Net sales revenue for the year ended
$60,420
$51,122
In addition, Deacon Co. reported bad debt expense of $88 for 2020 and there were no
uncollectible account recoveries during 2020.
Requirement 1: What amount of uncollectible accounts were written off during the current year?
Requirement 2: Based on your answer to requirement (1), what amount of cash was collected from
customers during the current year, assuming that all of Deacon's sales during the period were on
made account?

Which of the following actions is most likely to result in a decrease in the money supply? a. the discount rate on overnight loans is lowered. b. the government sells a new batch of treasury bonds. c. the federal reserve bank buys treasury bonds. d. the required reserve ratio for banks is decreased. 2b2t

The following balance sheet for the los gatos corporation was prepared by a recently hired accountant. in reviewing the statement you notice several errors. los gatos corporation balance sheet at december 31, 2018 assets cash $ 44,000 accounts receivable 86,000 inventories 57,000 machinery (net) 122,000 franchise (net) 32,000 total assets $ 341,000 liabilities and shareholders' equity accounts payable $ 54,000 allowance for uncollectible accounts 7,000 note payable 59,000 bonds payable 112,000 shareholders' equity 109,000 total liabilities and shareholders' equity $ 341,000 additional information: cash includes a $22,000 restricted amount to be used for repayment of the bonds payable in 2022. the cost of the machinery is $194,000. accounts receivable includes a $22,000 note receivable from a customer due in 2021. the note payable includes accrued interest of $7,000. principal and interest are both due on february 1, 2019. the company began operations in 2013. income less dividends since inception of the company totals $37,000. 52,000 shares of no par common stock were issued in 2013. 200,000 shares are authorized. required: prepare a corrected, classified balance sheet. (amounts to be deducted should be indicated by a minus sign.)

Torino company has 1,300 shares of $50 par value, 6.0% cumulative and nonparticipating preferred stock and 13,000 shares of $10 par value common stock outstanding. the company paid total cash dividends of $3,500 in its first year of operation. the cash dividend that must be paid to preferred stockholders in the second year before any dividend is paid to common stockholders is: