"the sales forecast is the cornerstone for budgeting." why? a. the sales forecast is based on demand, and without demand for the product there would be no sales. b. because production and inventory levels generally depend on the forecasted level of sales. c. the cost of goods sold budget, as the starting point for the operating budget, uses the budgeted unit sales. d. none of the above. g

Johnson company uses the allowance method to account for uncollectible accounts receivable. bad debt expense is established as a percentage of credit sales. for 2018, net credit sales totaled $6,400,000, and the estimated bad debt percentage is 1.40%. the allowance for uncollectible accounts had a credit balance of $61,000 at the beginning of 2018 and $49,500, after adjusting entries, at the end of 2018.required: 1. what is bad debt expense for 2018 as a percent of net credit sales? 2. assume johnson makes no other adjustment of bad debt expense during 2018. determine the amount of accounts receivable written off during 2018.3. if the company uses the direct write-off method, what would bad debt expense be for 2018?