2. at the beginning of the week, cash in bank has an account balance of $3,500.00. during the week, the following transactions occur: office supplies in the amount of $236.12 are purchased; the owner takes a withdrawal of $450.00; a customer's payment of $780.00 is received; and the company's monthly electric bill in the amount of $178.43 is paid. what is the balance of the cash in bank account at the end of the week?

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?