Wanda B. Rich is the CEO of Outlet Flooring, a discount provider of carpettile, wood, and laminate flooring. At the end of the year, the company's accountant provides Wanda with the following informationbefore any adjustment

Complete this question by entering your answers in the tabs below. After the adjusting entry is recorded in requirement 1 , what is the revised amount of operating income? Complete this question by entering your answers in the tabs below. Why would Wanda be motivated to manage operating income in this way? Why would Wanda be molvated to manage operating income in this way? Complete this question by entering your answers in the tabs below. Wanda instructs the accountant to instead record $660,000 as bad debt expense so that operating income will exactly meet analysts' expectations. By how much would total assets and operating income be misstated if the accountant records this amount? Wanda B. Rich is the CEO of Outlet Flooring, a discount provider of carpet, tile, wood, and laminate flooring. At the end of the year, the company's accountant provides Wanda with the following information, before any adjustment: Wanda has significant stock owmership in the company and, therefore, would like to keep the stock price high. Analysts on Wall Street expect the company to have operating income of $2.040,000. The fact that actual operating income is well above this amount wili make investors happy and help maintain a high stock price. Meeting analysts' expectations will also heip Wanda keep her job. Required: 1. Recond the adjusting entry for uncolectible accounts using the accountants estumate of 3 s of accounts receivable 2-a. After the adjusting entry is recorded in requicenent 1, what is the revised amount of operating income? 2.b. Wai Outlet Flooring stil meet analyst's' expectations? 3. Wanda instructs the accountant to instead record $660,000 as bad debt expenser so that operating income will exactly meet analysts expectations. By how much would total assets and operating income be misstated if the accountant records this amount? 4. Why would Wanda be motivated to manage operating income in this way? Record the adjusting entry for uncollectible accounts using the accountant's estimate of 3% of accounts recelvable. (If no entry is required for a particular transaction/event, select "No Journal Entry Fequired" in the fint account field.) Journal entry worksheet Record the adjusting entry for uncollectible accounts. Complete this question by entering your answers in the tabs below. Will Outlet Flooring still meet analysts' expectations