Participation Exercise #14: After viewing the video below respond to the following question.
Why is the “Percentage of Net Sales Method” an acceptable method to record Bad Debt Expense under GAAP(Generally Accepted Accounting Principles)? What would be the journal entry when you “actually’ write-off a bad debt?
Participation Exercise #15: After viewing the video below respond to the following question.
What are the advantages of accepting a note receivable? Explain?