Cardwire inc. has decided to lower the price of all its products to keep up with its competitors. to achieve this, the company needed to lower its overall costs. however, the procurement department at cardwire has been spending twice its allotted budget to buy raw materials. which of the following best illustrates the situation at cardwire

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.