on january 1, 2021 lee company paid $1,870,000 for 80,000 shares of thoma co's voting common stock which represents a 45% investment. no allocation to goodwill or other specific account was necessary. significant influence over thomas was achieved by this acquisition. thomas distributed a dividend of $2.00 per share during 2021 and reported net income of $720,000 What was the balance in the investment in thomas co account found in the financial records of lee as of december 31,2021

Swathmore clothing corporation grants its customers 30 days' credit. the company uses the allowance method for its uncollectible accounts receivable. during the year, a monthly bad debt accrual is made by multiplying 3% times the amount of credit sales for the month. at the fiscal year-end of december 31, an aging of accounts receivable schedule is prepared and the allowance for uncollectible accounts is adjusted accordingly. at the end of 2012, accounts receivable were dollar 586.000 and the allowance account had a credit balance of dollar 50,000. accounts receivable activity for 2013 was as follows: the company's controller prepared the following aging summary of year-end accounts receivable: prepare a summary journal entry to record the monthly bad debt accrual and the write-offs during the year. (if no entry is required for a particular event, select "no journal entry required" in the first account field.) prepare the necessary year-end adjusting entry for bad debt expense. (if no entry is required for an event, select "no journal entry required" in the first account field.) what is total bad debt expense for 2013? calculate the amount of accounts receivable that would appear in the 2013 balance sheet?