A company has computed a seasonal index for its quarterly sales. Which of the following statements about the index is NOT correct? A. An index of 0.75 for the first quarter indicates that sales were 25 percent lower than the average quarterly sales. B. The index for any quarter must be between zero and 2. C. The sum of the four quarterly index numbers should be 4. D. An index of 1.1 for the second quarter indicates that sales were 10 percent above the average quarterly sales.

Record the journal entry for the provision for uncollectible accounts under each of the following independent assumptions: a. the allowance for doubtful accounts before adjustment has a credit balance of $500. b. the allowance for doubtful accounts before adjustment has a debit balance of $250. c. assume that octoberʼs credit sales were $70,000. uncollectible accounts expense is estimated at 2% of sales. smith, gaylord n.. excel applications for accounting principles (p. 51). cengage textbook. kindle edition.