Select the correct statement from the following: Select one: a. Profit margin reflects a company's ability to produce net sales from total assets. b. Total asset turnover reflects the percent of net income in each dollar of net sales. c. Return on total assets can be separated into the gross margin ratio and debt ratio. d. A high return on total assets is desirable. e. Analysis of return on total assets is not beneficial in evaluating profitability.

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.