At year-end, Chief Company has a balance of $25,000 in accounts receivable of which $2,500 is more than 30 days overdue. Chief has a credit balance of $250 in the allowance for doubtful accounts before any year-end adjustments. Using the aging of accounts receivable method, Chief estimates that 2.0% of current accounts and 10% of accounts over thirty days are uncollectible. What is the amount of bad debt expense?

Which of the following describes one of the ways that the demographics of an area affect the price of housing in that area? a. when more people have children, their incomes tend to be higher and the housing prices are also higher. b. older people are more likely to stay in their houses, creating a seller's market that keeps prices low. c. an area with a lower population density won't have enough construction workers to build new houses quickly. d. an area with younger people will have a higher demand for rentals and a lower demand for buying.