Sharon, a cpa for a large firm, noticed that the company's accounting records drastically overstated the amount of inventory on hand, which led to overstating the assets of the firm. initially, she brought it to the attention of her supervisor, but when nothing was doneto correct the mistake in a timely manner, she decided the best course of action was to report it to the appropriate government official. although her actions took her outside the company, she was counting on current law, under the to protect her against company retaliation. a. cellar-kefauver actb. sarbanes-oxley actc. robinson-patman actd. sherman act

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?