2- Percent of Sales and Accounts Receivable Method to estimate bad debt expense Opportunity Ltd. had the following opening account balances on January 1, 2020: Accounts receivable Allowance for doubtful accounts $1,225,000 debit balance 29,000 credit balance Transactions during the year were: Sales (all on credit) $2,837,100 Collections on accounts Accounts receivable written off as uncollectible 3,250,000 35,000 a. Prepare the journal entry for the accounts receivable written off during the year. General Journal Post. Date 2020 Account Titles and Explanations Ref. Debit Credit 7.18 Company Crisis: Resulting Communications (Objs. 3, 4) Companies regularly face various crises. These are dramatic situations in which business doesn't run as usual, in fact, it takes a complete turn for the worst. As a result, a crisis communication strategy has to be set in motion, with various messages sent to various stakeholders. These messages can include emails, social media posts, blog posts, traditional letters and memos, as well as press releases and articles for news media. Messages will also include oral communication: interviews with media, podcasts, and phone calls. Your Task. Imagine you work on the corporate communications team at Headwaters Insurance. This large national company, with offices in London, Ontario, as well as Winnipeg and Halifax, has recently weathered a number of crises (explained next). For each crisis detail what the crisis communication plan should look like and produce at least one written message per crisis, using an indirect strategy. a. Financial crisis: Headwaters experiences five consecutive quarters in a row in which it doesn't meet its financial targets, its stock price tumbles, and its debt level rises. b. Technology crisis: Headwaters experiences a tornado-induced power outage at its London, Ontario, headquarters resulting in no Internet, no email, no social media, etc. for 48 hours. Thousands of insurance claims across the country go unprocessed. c. Natural crisis: The tornado that hits the London, Ontario, Headwaters headquarters causes flooding, fire, and at least $45 million in damage. Work for its 1,500 head-office employees is disrupted for at least three weeks. d. Labour crisis: The 375 customer service representatives at Headwaters' call centre bases in