Knowledge check 01 carlton company uses the percent of sales method to estimate its bad debt expense. based on past experience, the company estimates 2 percent of credit sales to be uncollectible. at the end of the current year, the company's unadjusted trial balance shows accounts receivable of $245,000 and credit sales of $900,000. prepare the necessary december 31 adjusting entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.

Explanation:

The adjusting entry is shown below:

Bad debt expense A/c Dr $18,000

             To Allowance for doubtful accounts $18,000

(Being bad expense is adjusted)

The bad debt expense is computed by

= Credit sales × uncollectible percentage

= $900,000 × 2%

= $18,000

The same amount will be credited to Allowance for doubtful accounts as it records only estimated value.

answer; engaging in effective public relations;

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.