This year, jennifer's company paid $400,000 in wages, $850,000 for overhead
expenses, and $75,000 for advertising. it made a profit of $23,000.
on which amount will jennifer need to pay federal business taxes?

a. profit
b. advertising
c. wages
d. overhead

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?