On March 31, Vale Co. had an unadjusted credit balance of $1,000 in its allowance for credit losses. An analysis of Vale’s trade accounts receivable at that date revealed the following: Estimated Age Amount Uncollectible 0-30 days $60,000 5% 31-60 days 4,000 10% Over 60 days 2,000 70% What amount should Vale report as allowance for credit losses in its March 31 balance sheet?

Kendra knight took part in a friendly game of touch football. she had played before and was familiar with football. michael jewett was on her team. in the course of play, michael bumped into kendra and knocked her to the ground. he stepped on her hand, causing injury to a little finger that later required its amputation. she sued michael for damages. he defended on the ground that she had assumed the risk. kendra claimed that assumption of risk could not be raised as a defense because the state legislature had adopted the standard of comparative negligence. what happens if contributory negligence applies? what happens if the defense of comparative negligence applies?