A customer's margin account shows a debit balance of $20,000. The long market value is $55,000. The broker-dealer rehypothecates the maximum permitted by federal law. This means

On december 31 of the current year, the unadjusted trial balance of a company using the percent of receivables method to estimate bad debt included the following: accounts receivable, debit balance of $97,900; allowance for doubtful accounts, credit balance of $1,031. what amount should be debited to bad debts expense, assuming 6% of outstanding accounts receivable at the end of the current year are estimated to be uncollectible?