Speedy Gonzalez is a popular cartoon character, but is widely considered an inappropriate stereotype. Many children are raised watching Speedy Gonzalez cartoons, unaware that such stereotypes are negative. This is a product of .

Acompany has $80,000 in outstanding accounts receivable and it uses the allowance method to account for uncollectible accounts. experience suggests that 6% of outstanding receivables are uncollectible. the current credit balance (before adjustments) in the allowance for doubtful accounts is $1,200. the journal entry to record the adjustment to the allowance account includes a debit to bad debts expense for $4,800. true or false