At the beginning of the current period, waterway industries had balances in accounts receivable of $190,800 and in allowance for doubtful accounts of $9,670 (credit). during the period, it had net credit sales of $730,800 and collections of $749,620. it wrote off as uncollectible accounts receivable of $7,511. however, a $3,339 account previously written off as uncollectible was recovered before the end of the current period. uncollectible accounts are estimated to total $23,000 at the end of the period. (omit cost of goods sold entries.) (a) prepare the entries to record sales and collections during the period (b) prepare the entry to record the write-off of uncollectible accounts during the period. (c) prepare the entries to record the recovery of the uncollectible account during the period. (d) prepare the entry to record bad debt expense for the period.

Cosmetic profits. sally is the executive vice president of big name cosmetics company. through important and material, nonpublic information, she learns that the company is soon going to purchase a smaller chain of stores. it is expected that stock in big name cosmetics will rise dramatically at that point. sally immediately buys a number of shares of her company's stock. she also tells her friend alice about the expected purchase of stores. alice wanted to purchase stock in the company but lacked the funds with which to do so. although she did not have the funds in bank a, alice decided to draw a check on bank a and deposit the check in bank b and then proceed to write a check on bank b to cover the purchase of the stock. she hoped that she would have sufficient funds to deposit before the check was presented for payment. of which of the following offenses, if any, is alice guilty of by buying stock?

Which of the following is not an example of one of the four mail advantages of prices on a free market economy

For the year ended december 31, a company has revenues of $323,000 and expenses of $199,000. the company paid $52,400 in dividends during the year. the balance in the retained earnings account before closing is $87,000. which of the following entries would be used to close the dividends account?