The broker has seven different escrow accounts because he wants to maintain good relationships with each of the different banks. These relationships will help the broker get financing for some of the builders with whom he works. The broker is a signatory on all the accounts, and he maintains no more than $1000 of his own money in each account. He reconciles all of the accounts no more than 30 days from the last reconciliation. Can the broker have this many accounts? a. Yes. He can have as many accounts as he wishes so long as he clearly designates them as escrow accounts and is a signatory to each of them.
b. Yes. He can have several accounts, but each account must have a different signatory on it.
c. No. He must have only one escrow account, and all the money must be placed in that account.
d. No. He can have only one account, and it must be placed in a savings and loan, not a bank.

Swathmore clothing corporation grants its customers 30 days' credit. the company uses the allowance method for its uncollectible accounts receivable. during the year, a monthly bad debt accrual is made by multiplying 3% times the amount of credit sales for the month. at the fiscal year-end of december 31, an aging of accounts receivable schedule is prepared and the allowance for uncollectible accounts is adjusted accordingly. at the end of 2012, accounts receivable were dollar 586.000 and the allowance account had a credit balance of dollar 50,000. accounts receivable activity for 2013 was as follows: the company's controller prepared the following aging summary of year-end accounts receivable: prepare a summary journal entry to record the monthly bad debt accrual and the write-offs during the year. (if no entry is required for a particular event, select "no journal entry required" in the first account field.) prepare the necessary year-end adjusting entry for bad debt expense. (if no entry is required for an event, select "no journal entry required" in the first account field.) what is total bad debt expense for 2013? calculate the amount of accounts receivable that would appear in the 2013 balance sheet?