An aging of lily company’s accounts receivable as of december 31 revealed the following. amount % uncollectible current $20,000 2% 1-30 days 50,000 4% 31-60 days 30,000 7% over 60 days 10,000 25% before any adjustment for the current year’s bad debts, lily company has a balance in its allowance for bad debts of $3,000; this $3,000 represents the remaining allowance associated with accounts receivable created in prior years. lily company uses the aging method of estimating bad debt expense. what is bad debt expense for this year?

Which of the following statements is true of unsought products? as compared to convenience products, unsought products are purchased more frequently. unsought products are consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort. a life insurance policy is an example of an unsought product. unsought products have strong brand identification for which a significant group of buyers is willing to make a special purchase effort. unsought products are those products purchased for further processing or for use in conducting a business.