The following information is from the 2015 records of armadillo camera shops. ( provide an organized explanation of the answer)accounts receivable, december 31, 2015 $330,000 (debit)allowance for uncollectible accounts, january 1, 2015 30,000 (credit)net sales for 2015 1,500,000accounts written off as uncollectible during 2015 25,500 uncollectible accounts expense is estimated by the percent-of-sales method. management estimates that 2% of net sales are uncollectible. which of the following will be the 12/31/15 balance in the allowance for uncollectible accounts? a) $25,500 b) $30,000 c) $34,500 d) $30,500

Trecek corporation incurs research and development costs of $625,000 in 2017, 30 percent of which relate to development activities subsequent to ias 38 criteria having been met that indicate an intangible asset has been created. the newly developed product is brought to market in january 2018 and is expected to generate sales revenue for 10 years. assume that a u.s.–based company is issuing securities to foreign investors who require financial statements prepared in accordance with ifrs. thus, adjustments to convert from u.s. gaap to ifrs must be made. ignore income taxes. required: (a) prepare journal entries for research and development costs for the years ending december 31, 2017, and december 31, 2018, under (1) u.s. gaap and (2) ifrs. (c) prepare the entry(ies) that trecek would make on the december 31, 2017, and december 31, 2018, conversion worksheets to convert u.s. gaap balances to ifrs.