Meyer works for a new start-up technology firm, which has six highly opinionated but very committed employees. The owner of the firm, Zalman, strongly believes that he should make every decision since he is the boss. But Zalman often jumps to conclusions and does not even take time to diagnose the problem at hand because he does not like to ask any of the employees for suggestions. Moreover, Zalman’s decisions are usually focused on short-term rather than long-term benefits and costs. At this point, most people in the firm agree that the decision making of the owner is going to destroy the young firm before it really gets started. Zalman’s belief that he should make every decision himself by diagnosing the problem as he sees it and then immediately implementing a solution is a(n)

Colorado rocky cookie company offers credit terms to its customers. at the end of 2018, accounts receivable totaled $715,000. the allowance method is used to account for uncollectible accounts. the allowance for uncollectible accounts had a credit balance of $50,000 at the beginning of 2018 and $30,000 in receivables were written off during the year as uncollectible. also, $3,000 in cash was received in december from a customer whose account previously had been written off. the company estimates bad debts by applying a percentage of 15% to accounts receivable at the end of the year. 1. prepare journal entries to record the write-off of receivables, the collection of $3,000 for previously written off receivables, and the year-end adjusting entry for bad debt expense.2. how would accounts receivable be shown in the 2018 year-end balance sheet?