At the beginning of the current period, griffey corp. had balances in accounts receivable of $200,000 and in allowance for doubtful accounts of $9,000 (credit). during the period, it had net credit sales of $800,000 and collections of $763,000. it wrote off as uncollectible accounts receivable of $7,300. however, a $3,100 account previously written off as uncollectible was recovered before the end of the current period. uncollectible accounts are estimated to total $25,000 at the end of the period.
(a) prepare the entries to record sales and collections during the period.
(b) prepare the entry to record the write-off of uncollectible accounts during the period.
(c) prepare the entries to record the recovery of the uncollectible account during the period.
(d) prepare the entry to record bad debt expense for the period.

Richardson hired j.c. flood company, a plumbing contractor, to correct a stoppage in the sewer line of her house. the plumbing company's 'snake' device, used to clear the line leading to the main sewer, became caught in the underground line. to release it, the company excavated a portion of the sewer line in richardson's backyard. in the process, the company discovered numerous leaks in a rusty, defective water pipe that ran parallel with the sewer line. to meet public regulations, the water pipe, of a type no longer approved for such service, had to be replaced either then or later, when the yard would have to be excavated again. the plumbing company proceeded to repair the water pipe. though richardson inspected the company's work daily and did not express any objection to the extra work involved in replacing the water pipe, she refused to pay any part of the total bill after the company completed the entire operation. j.c. flood company then sued richardson for the costs of labor and material it had furnished. (c) for what, if anything, should richardson be liable? explain."

In 2000, campbell soup company launched an ad campaign that showed prepubescent boys offering soup to prepubescent girls. the girls declined because they were concerned about their calorie intake. the boys explained that “lots of campbell’s soups are low in calories,” which made them ok for the girls to eat. the ads were pulled after parents expressed concern. why were parents worried? i

Which of the following is not an example of one of the four mail advantages of prices on a free market economy