You just won the lottery and have two choices for how you will collect your money. you can collect $100,000 today or receive $20,000 per year for the next seven years. a financial analyst has told you that you can earn 10% on your investments. which alternative should you select?

Record the journal entry for the provision for uncollectible accounts under each of the following independent assumptions: a. the allowance for doubtful accounts before adjustment has a credit balance of $500. b. the allowance for doubtful accounts before adjustment has a debit balance of $250. c. assume that octoberʼs credit sales were $70,000. uncollectible accounts expense is estimated at 2% of sales. smith, gaylord n.. excel applications for accounting principles (p. 51). cengage textbook. kindle edition.