Lenox Corp. sold merchandise for $5,000 to M. Baxter on May 15, 2016, with payment due in 30 days. Subsequent to this, Baxter experienced cash-flow problems and was unable to pay its debt. On August 10, 2016, Lenox stopped trying to collect the outstanding receivable from Baxter and wrote off the account as uncollectible. On December 1, 2016, Baxter sent Lenox a check for $1,000 and offered to sign a two-month, 9%, $4,000 promissory note to satisfy the remaining obligation. Baxter paid the entire amount due Lenox, with interest, on January 31, 2017. Lenox ends its accounting year on December 31 each year and uses the allowance method to account for bad debts. Required
1. Prepare all of the necessary journal entries on the books of Lenox Corp. from May 15, 2016, to January 31, 2017.
2. Why would Baxter bother to send Lenox a check for $1,000 on December 1 and agree to sign a note for the balance, given that such a long period of time had passed since the original purchase?

The legal form of business ownership that is owned by many people is called a

John novosel was employed by nationwide insurance company for fifteen years. novosel had been a model employee and, at the time of discharge, was a district claims manager and a candidate for the position of division claims manager. during novosel's fifteenth year of employment, nationwide circulated a memorandum requesting the participation of all employees in an effort to lobby the pennsylvania state legislature for the passage of a certain bill before the body. novosel, who had privately indicated his disagreement with nationwide's political views, refused to lend his support to the lobby, and his employment with nationwide was terminated. novosel brought two separate claims against nationwide, arguing, first, that his discharge for refusing to lobby the state legislature on behalf of nationwide constituted the tort of wrongful discharge in that it was arbitrary, malicious, and contrary to public policy. novosel also contended that nationwide breached an implied contract guaranteeing continued employment so long as his job performance was satisfactory. what decision as to each claim?

The common stock of ncp paid $1.35 in dividends last year. dividends are expected to grow at an annual rate of 5.30 percent for an indefinite number of years. a. if ncp's current market price is $22.57 per share, what is the stock's expected rate of return? b. if your required rate of return is 7.3 percent, what is the value of the stock for you? c. should you make the investment? a. if ncp's current market price is $22.57 per share, the stock's expected rate of return is