Business, 03.01.2020 06:31 owlsandR5

As the assistant controller for s industries you are and are responsible for preparing the year-end adjusting entry to estimate uncollectible accounts receivable. the company uses the allowance method. for the current year, you have used the historical percentage of 20% of total year-end accounts receivable as a reasonable estimate of amounts that wonâ€™t be collected. the controller is concerned about reporting a lower profit for the current year. the controller tells the assistant controller to lower the percentage to 10% this year which would lower the expense resulting in a higher net income. what should you do?

multiple choice

a. keep the percentage 20% since this is the most accurate and reasonable estimate for the companyâ€™s future uncollectible accounts receivable.
b. changing the percentage does not violate an ethical consideration.
c. lower the percentage to 10% to avoid questions from the companyâ€™s investors.
d. lower the percentage to 10% to make sure the controller gives you a good review and raise this year.

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As the assistant controller for s industries you are and are responsible for preparing the year-end...

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