Lake norman corporation offered detachable 5-year warrants to buy one share of common stock (par value $5) at $20 (at a time when the stock was selling for $32). the price paid for 2,000, $1,000 bonds with the warrants attached was $205,000. the market price of the lake norman bonds without the warrants was $180,000, and the market price of the warrants without the bonds was $20,000. what amount should be allocated to the warrants?

At the end of the current year, accounts receivable has a balance of $550,000; allowance for doubtful accounts has a credit balance of $5,500; and sales for the year total $2,500,000. an analysis of receivables estimates uncollectible receivables as $25,000. determine the net realizable value of accounts receivable after adjustment. (hint: determine the amount of the adjusting entry for bad debt expense and the adjusted balance of allowance of doubtful accounts.)