Kingston co. uses the percentage-of-receivables basis to record bad debt expense.

it estimates that 1% of accounts receivable will become uncollectible.

accounts receivable are $420,000 at the end of the year, and the allowance for doubtful accounts has a credit balance of $1,500.

(a) prepare the adjusting journal entry to record bad debt expense for the year.

How does the plaintiff, mrs. wood, try to implicate the gun manufacturer ( who testifies, what do they say, what evidence is introduced)?

Consider the scenario below and let us know if you believe lauren smith's actions to be ethical. let us know why or why not. lauren smith is the controller for sports central, a chain of sporting goods stores. she has been asked to recommend a site for a new store. lauren has an uncle who owns a shopping plaza in the area of town where the new store is to be located, so she decides to contact her uncle about leasing space in his plaza. lauren also contacted several other shopping plazas and malls, but her uncle’s store turned out to be the most economical place to lease. therefore, lauren recommended locating the new store in her uncle’s shopping plaza. in making her recommendation to management, she did not disclose that her uncle owns the shopping plaza. if management decided to go with lauren's uncle's plaza, what additional information would be needed in the financial statements?

What do you think: would it be more profitable to own 200 shares of penny’s pickles or 1 share of exxon? why do you think that?