The following information is from the 2015 records of armand camera shop: accounts receivable, december 31, 2015 $40,000 (debit) allowance for doubtful accounts, december 31, 2015 prior to adjustment 1,500 (debit) net credit sales for 2015 175,000 accounts written off as uncollectible during 2015 15,000 cash sales during 2015 27,000 bad debts expense is estimated by the percent-of-sales method. the management estimates that 3% of net credit sales will be uncollectible. calculate the amount of bad debts expense for 2015 and prepare the journal entry.

If the ceo of a large, diversified, firm were filling out a fitness report on a division manager (i.e., "grading" the manager), which of the following situations would be likely to cause the manager to receive a better grade? in all cases, assume that other things are held constant.a. the division's basic earning power ratio is above the average of other firms in its industry.b. the division's total assets turnover ratio is below the average for other firms in its industry.c. the division's debt ratio is above the average for other firms in the industry.d. the division's inventory turnover is 6, whereas the average for its competitors is 8.e. the division's dso (days' sales outstanding) is 40, whereas the average for its competitors is 30.