The following transactions apply to Ozark Sales for 2016:

1. The business was started when the company received $50,000 from the issue of common stock.

2. Purchased equipment inventory of $380,000 on account.

3. Sold equipment for $510,000 cash (not including sales tax). Sales tax of 8 percent is collected when the merchandise is sold. The merchandise had a cost of $330,000.

4. Provided a six-month warranty on the equipment sold. Based on industry estimates, the warranty claims would amount to 2 percent of sales.

5. Paid the sales tax to the state agency on $400,000 of the sales.

6. On September 1, 2016, borrowed $50,000 from the local bank. The note had a 4 percent interest rate and matured on March 1, 2017.

7. Paid $6,200 for warranty repairs during the year.

8. Paid operating expenses of $78,000 for the year.

9. Paid $250,000 of accounts payable.

10. Recorded accrued interest on the note issued in transaction no. 6.

Required:

a. Prepare the income statement for 2016.

b. Prepare the balance sheet for 2016.

c. Prepare the statement of cash flows for 2016.

Swathmore clothing corporation grants its customers 30 days' credit. the company uses the allowance method for its uncollectible accounts receivable. during the year, a monthly bad debt accrual is made by multiplying 3% times the amount of credit sales for the month. at the fiscal year-end of december 31, an aging of accounts receivable schedule is prepared and the allowance for uncollectible accounts is adjusted accordingly. at the end of 2012, accounts receivable were dollar 586.000 and the allowance account had a credit balance of dollar 50,000. accounts receivable activity for 2013 was as follows: the company's controller prepared the following aging summary of year-end accounts receivable: prepare a summary journal entry to record the monthly bad debt accrual and the write-offs during the year. (if no entry is required for a particular event, select "no journal entry required" in the first account field.) prepare the necessary year-end adjusting entry for bad debt expense. (if no entry is required for an event, select "no journal entry required" in the first account field.) what is total bad debt expense for 2013? calculate the amount of accounts receivable that would appear in the 2013 balance sheet?