Exercise 9-06 a-b Swifty Company has accounts receivable of $106,100 at March 31, 2020. Credit terms are 2/10, 1/30. At March 31, 2020, there is a $1,500 credit receivables basis for estimating uncollectible accounts. The company's estimate of bad debts is shown below. Estimated Balance, Percentage Age of Accounts Uncollectible 2020 2019 Current $61,500 $75,000 3% 1-30 days past due 26,600 8,000 5% 31-90 days past due9 ,500 2,400 23% Over 90 days past due 8,500 1,100 51% $106,100 $86,500 ACCT 221 Writing Assignment - Wolf of Wall Street Due Tuesday, December 3, 2019 by 11:59 PM via Blackboard Assignment Submission Research Paper Content Guidelines You recently received an opportunity to work for a Fortune 500 corporation that publicly trades stock. The company is registered with the Securities and Exchange Commission. While in the break room getting water from the water cooler, you overhear the CFO discussing privileged information with the Controller. Not fully understanding the ramifications around the information, you discuss it with a friend while attending a Happy Hour event after work. From the details you shared, your friend determines that your company is about to make significant moves that will ultimately lead to an increase in the company's stock market price. Your friend then tells you that he or she will buy some shares of your company's stock as a result and recommends you do the same. Will you buy shares of the stock as well? Explain why or why not. Exercise 9-06 a-b Swifty Company has accounts receivable of $106,100 at March 31, 2020. Credit terms are 2/10, 1/30. At March 31, 2020, there is a $1,500 credit receivables basis for estimating uncollectible accounts. The company's estimate of bad debts is shown below. Estimated Balance, Percentage Age of Accounts Uncollectible 2020 2019 Current $61,500 $75,000 3% 1-30 days past due 26,600 8,000 5% 31-90 days past due9 ,500 2,400 23% Over 90 days past due 8,500 1,100 51% $106,100 $86,500 ACCT 221 Writing Assignment - Wolf of Wall Street Due Tuesday, December 3, 2019 by 11:59 PM via Blackboard Assignment Submission Research Paper Content Guidelines You recently received an opportunity to work for a Fortune 500 corporation that publicly trades stock. The company is registered with the Securities and Exchange Commission. While in the break room getting water from the water cooler, you overhear the CFO discussing privileged information with the Controller. Not fully understanding the ramifications around the information, you discuss it with a friend while attending a Happy Hour event after work. From the details you shared, your friend determines that your company is about to make significant moves that will ultimately lead to an increase in the company's stock market price. Your friend then tells you that he or she will buy some shares of your company's stock as a result and recommends you do the same. Will you buy shares of the stock as well? Explain why or why not