Edmentum, inc. (us)

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ronald is the sole owner of a fast food store. over the past six months, his sales have fallen and the store has been running at a loss as a result of a
popular fast food chain outlet opening in the area. friends and relatives who lent ronald money to open the store want him to sell his personal property
in order to repay those loans. what ownership category of business is ronald in?
o a.
limited partnership
ob.
c.
corporation
proprietorship
od.
cooperative organization
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Colorado rocky cookie company offers credit terms to its customers. at the end of 2018, accounts receivable totaled $715,000. the allowance method is used to account for uncollectible accounts. the allowance for uncollectible accounts had a credit balance of $50,000 at the beginning of 2018 and $30,000 in receivables were written off during the year as uncollectible. also, $3,000 in cash was received in december from a customer whose account previously had been written off. the company estimates bad debts by applying a percentage of 15% to accounts receivable at the end of the year. 1. prepare journal entries to record the write-off of receivables, the collection of $3,000 for previously written off receivables, and the year-end adjusting entry for bad debt expense.2. how would accounts receivable be shown in the 2018 year-end balance sheet?