I will like your answer thanks No.14

1. Record the adjusting entry for uncollectible accounts using the accounting manager's estimate of 8% of accounts receivable. 2-a. After the adjusting entry is recorded in requirement 1 , what is the revised amount of operating income? 2-b. Does operating income increase or decrease compared to the previous year? 3. Ernic instructs the accounting manager to record the adjusting entry for uncollectible accounts using 3% rather than 8% of accoun receivable. After this adjustment, does operating income increase or decrease compared to the previous year? 4. By how much would total assets and expenses be misstated using the 3% amount? Complete this question by entering your answers in the tabs below. Does operating income increase or decrease compared to the previous year? Does operating income increase or decrease compared to the previous year? Complete this question by entering your answers in the tabs below. Record the adjusting entry for uncollectible accounts using the accounting manager's estimate of 8% of accounts receivable. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the adjusting entry for uncollectible accounts. Note: Enter debits before credits. 1. Record the adjusting entry for uncollectible accounts using the accounting manoger's estimate of 8% of accounts receivable. 2-a. After the adjusting entry is recorded in requinement 1 , what is the tevised amount of operating income? 2.b. Does operating income increase or docrease compared to the peevious year? 3. Ernie instructs the accounting managor to record the adjusting entry for uncollectible accounts using 3% rather than 8% of accounts receivable. After this adjustment, does operating income increase or decrease compared to the perevious year? 4. By how much would total assets and expenses be misstated using the 3% amount? Complete this question by entering your answers in the tabs below. Aner the adjusting entry is recorded in requirement 1 , what is the revistd amount of operating inceme? 1. Record the adjusting entry for uncollectible accounts using the accounting manager's estimate of 8% of accounts receivable. 2-a. After the adjusting entry is recorded in requirement 1 , what is the revised amount of operating income? 2-b. Does operating income increase or decrease compared to the previous year? 3. Ernie instructs the accounting manager to record the adjusting entry for uncollectible accounts using 3% rather than 8% of accounts receivable. After this adjustment, does operating income increase or decrease compared to the previous year? 4. By how much would total assets and expenses be misstated using the 3% amount? Complete this question by entering your answers in the tabs below. By how much would total assets and expenses be misstated using the 3% amount? Required: 1. Record the adjusting entry for uncollectible accounts using the accounting manager's estimate of 8% of accounts receivable. 2 -a. After the adjusting entry is recorded in requirement 1 , what is the revised amount of operating income? 2-b. Does operating income increase or decrease compared to the previous year? 3. Ernie instructs the accounting manager to record the adjusting entry for uncollectible accounts using 3% rather than 8% of accounts recelvable. After this adjustment, does operating income increase or decrease compared to the previous year? 4. By how much would total assets and expenses be misstated using the 3% amount? Complete this question by entering your answers in the tabs below? Ernie instructs the accounting manager to record the adjusting entry for uncollectible accounts using 3% rather than 8% of accounts receivable. After this adjustment, does operating income increase or decrease compared to the previous year? Does operating income increase or decroase compared to the provious yean? Ernie Upshaw is the supervising manager of Sleep Tight Bedding. At the end of the year, the company's accounting manager provides Ernie with the following information, before any adjustment. In the previous year, Sleep Tight Bedding reported operating income (after adjustment) of $286,000. Emie knows that it's important to report an upward trend in earnings. This is important not only for Ernie's compensation and employment, but also for the company's stock price, If investors see a decline in earnings, the stock price could drop significantly, and Ernie owns a large amount of the company's stock. This has caused Ernie many sleepless nights. Required: 1. Record the adjusting entry for uncollectible accounts using the accounting manager's estimate of 8% of accounts recelvable. 2 -a. After the adjusting entry is recorded in requirement 1 , what is the revised amount of operating income? 2-b. Does operating income increase or decrease compared to the previous year? 3. Ernie instructs the accounting manager to record the adjusting entry for uncollectible accounts using 3% rather than 8% of accounts receivable. After this adjustment, does operating income increase or decrease compared to the previous year? 4. By how much would total assets and expenses be misstated using the 3% amount