Swifty, Inc. had net sales in 2020 of $1,416,300. At December 31, 2020, before adjusting entries, the balances in selected accounts were Accounts Receivable $370,500 debit, and Allowance for Doubtful Accounts $3,380 credit. If Swifty estimates that 8% of its receivables will prove to be uncollectible. Prepare the December 31, 2020, journal entry to record bad debt expense.

Capital financial corporation will lend 90 percent against account balances that have averaged 30 days or less; 80 percent for account balances between 31 and 40 days; and 70 percent for account balances between 41 and 45 days. customers that take over 45 days to pay their bills are not considered acceptable accounts for a loan. the current prime rate is 16.50 percent, and capital charges 3.50 percent over prime to charming as its annual loan rate. a. determine the maximum loan for which charming paper company could qualify.