Use the information presented in be7.5 for wilton, inc.
a. instead of an allowance for doubtful accounts balance of $2,400 credit, the balance was $1,900 debit. assume that 10% of accounts receivable will prove to be uncollectible. prepare the entry to record bad debt expense.
b. instead of estimating uncollectibles based on a percentage of receivables, assume wilton prepares an aging schedule that estimates total uncollectible accounts at $24,600. (assume an allowance of $2,400 credit.) prepare the entry to record bad debt expense.

Which type of data does your company collect from customers or potential customers? a. positioning datab. market share datac. primary datad. secondary data select the best answer from the choices provided

Grant, inc., acquired 30% of south co.’s voting stock for $200,000 on january 2, year 1, and did not elect the fair value option. the price equaled the carrying amount and the fair value of the interest purchased in south’s net assets. grant’s 30% interest in south gave grant the ability to exercise significant influence over south’s operating and financial policies. during year 1, south earned $80,000 and paid dividends of $50,000. south reported earnings of $100,000 for the 6 months ended june 30, year 2, and $200,000 for the year ended december 31, year 2. on july 1, year 2, grant sold half of its stock in south for $150,000 cash. south paid dividends of $60,000 on october 1, year 2. before income taxes, what amount should grant include in its year 1 income statement as a result of the investment?

As related to a company completing the purchase to pay process, is there an accounting journal entry "behind the scenes" when xyz company pays for the goods within 10 days of the invoice (gross method is used for discounts and terms are 2/10 net 30) that updates the general ledger?