Farr co. elects to use the percentage-of-sales basis in 2017 to record bad debt expense. it estimates that 2% of net credit sales will become uncollectible. sales revenues are $801,000 for 2017, sales returns and allowances are $40,100, and the allowance for doubtful accounts has a credit balance of $8,900. prepare the adjusting entry to record bad debt expense in 2017.

Personal financial planning is the process of creating and achieving financial goals? true or false

The following are budgeted data: january february march sales in units 16,200 22,400 19,200 production in units 19,200 20,200 18,700 one pound of material is required for each finished unit. the inventory of materials at the end of each month should equal 20% of the following month's production needs. purchases of raw materials for february would be budgeted to be:

Lillypad toys is a manufacturer of educational toys for children. six months ago, the company's research and development division came up with an idea for a unique touchscreen device that can be used to introduce children to a number of foreign languages. three months ago, the company produced a working prototype, and last month the company successfully launched its new device on the commercial market. what should lillypad's managers prepare for next? a. increased competition from imitators b. a prolonged period of uncontested success c. a sharp decline in demand for the product d. a difficult struggle to move from invention to innovation