Gideon company uses the direct write-off method of accounting for uncollectible accounts. on may 3, the gideon company wrote off the $2,000 uncollectible account of its customer, a. hopkins. the entry or entries gideon makes to record the write off of the account on may 3 is: multiple choice bad debts expense 2,000 accounts receivable—a. hopkins 2,000 allowance for doubtful accounts 2,000 accounts receivable—a. hopkins 2,000 accounts receivable—a. hopkins 2,000 cash 2,000 cash 2,000 accounts receivable—a. hopkins 2,000 accounts receivable—a. hopkins 2,000 bad debts expense 2,000

Which of the following statements is correct? stockholders should generally be happier than bondholders to have managers invest in risky projects with high potential returns as opposed to safe projects with lower expected returns. potential conflicts between stockholders and bondholders are increased if a firm's bonds are convertible into its common stock. takeovers are most likely to be attempted if the target firm’s stock price is above its intrinsic value. one advantage of operating a business as a corporation is that stockholders can deduct their pro rata share of the taxes the firm pays, thereby eliminating the double taxation investors would face in a partnership.