Rock Company uses the estimate of sales method of accounting for uncollectible accounts. Rock Co. estimates that 2% of all credit sales will be uncollectible. At the beginning of the year, on January 1, 2013, the Allowance for Bad Debts had a credit balance of $2863. During 2013, Rock Co. wrote off Accounts Receivable totaling $1938 and made credit sales of $137067. After the adjusting entry is posted, the December 31, 2013 balance in Bad Debts Expense would be:

a naked warrant, also known as a covered warrant, is a derivative that allows the holder to buy or sell a security, such as a bond or share. unlike a normal warrant, it is not attached to a newly issued bond or preferred stock.

unsecured bonds: they are not secured by a specific asset, but rather by "the full faith and credit" of the issuer. in other words, the investor has the issuer's promise to repay but has no claim on specific collateral. debt, such as unsecured bond debt, is said to be “subordinated,” or junior, to secured debt.

rational decision making is a multi-step process for making choices between alternatives. the process of rational decision making favors logic, objectivity, and analysis over subjectivity and insight. the word “rational” in this context does not mean sane or clear-headed as it does in the colloquial sense.

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