Clark Company uses the allowance method to account for bad debts. To estimate the amount of uncollectible accounts, Clark Company uses the percentage of sales method . A review of the end of the year accounting information finds the following: Net sales for the year, $555,000. This includes $61,000 of cash sales; Ending balance in Accounts Receivable, $77,000; Ending balance in Allowance for Uncollectible Accounts, $507 (debit balance). After discussions with company management, you determine that 4% of net credit sales is a reasonable estimate of uncollectible accounts. Required: Journalize the entry to record bad debts expense for the year ended December 31.

Why do police officers get paid less than professional baseball players?

Ann chovies, owner of the perfect pasta pizza parlor, uses 20 pounds of pepperoni each day in preparing pizzas. order costs for pepperoni are $10.00 per order, and carrying costs are 4 cents per pound per day. lead time for each order is three days, and the pepperoni itself costs $3.00 per pound. if she were to order 80 pounds of pepperoni at a time, what would be the average inventory level?

Garrett is an executive vice president at samm hardware. he researches a proposal by a larger company, maximum hardware, to combine the two companies. by analyzing past performance, conducting focus groups, and interviewing maximum employees, garrett concludes that maximum has poor profit margins, sells shoddy merchandise, and treats customers poorly. what actions should garrett and samm hardware take? a. turn down the acquisition offer and prepare to resist a hostile takeover. b. attempt a friendly merger and use managerial hubris to improve results at maximum. c. welcome the acquisition and use knowledge transfer to impart sam hardware's management practices. d. do nothing; the two companies cannot combine without samm hardware's explicit consent.