Willie's compensation contract states that if the company generates operating income of at least $203,000, he will get a salary bonus early next year. Required: 1. Record the adjusting entry for uncollectible accounts using the accountant's estimate of 10% of accounts receivable. 2-a. After the adjusting entry is recorded in requirement 1 , what is the revised amount of operating income? 2-b. Will Wille get his salary bonus? 3. Willie instructs the accountant to record the adjusting entry for uncollectible accounts using 7% rather than 10% of accounts receivable. Now will Willie get his salary bonus? 4. By how much would total assets and operating income be misstated using the 7% amount? Complete this question by entering your answers in the tabs below. Record the adjusting entry for uncollectible accounts using the accountant's estimate of 10% of accounts receivable. (If no entry is required for a particular transactionvevent, select "No Journal Entry Required" in the first account field.) Willie's compensation contract states that if the company generates operating income of at least $203,000, he will get a salary bonus early next year. Required: 1. Record the adjusting entry for uncollectible accounts using the accountant's estimate of 10% of accounts receivable. 2-a. After the adjusting entry is recorded in requircment 1 , what is the revised amount of operating income? 2.b. Will Willie get his salary bonus? 3. Willie instructs the accountant to record the adjusting entry for uncollectible accounts using 7% rather than 10% of accounts receivable. Now will Willie get his salary bonus? 4. By how much would total assets and operating income be misstated using the 7% amount? Complete this question by entering your answers in the tabs below. By how much would total assets and operating income be misstated using the 796 amount? Wille's compensation contract states that if the company generates operating income of at least $203,000, he will get a salary bonus early next year. Required: 1. Record the adjusting entry for uncollectible accounts using the accountant's estimate of 10% of accounts receivable. 2-a. After the adjusting entry is recorded in requirement 1 , what is the rovised amount of operating income? 2-b. Will Willie get his salary bonus? 3. Willie instructs the accountant to record the adjusting entry for uncollectible accounts using 7% rather than 10% of accounts recelvable. Now will Willie get his salary bonus? 4. By how much would total assets and operating income be misstated using the 7% amount? Complete this question by entering your answers in the tabs below. After the adjusting entry is recorded in requirement 1 , what is the revised amountygof operating income? Willie Cheetum is the CEO of Happy Foods, a distributor of produce to grocery store chains throughout the Midwest. At the end of the year, the company's accounting manager provides Willie with the following information, before any adjustment. Willie's compensation contract states that if the company generates operating income of at least $203,000, he will get a salary bonus early next year. Required: 1. Record the adjusting entry for uncollectible accounts using the accountant's estimate of 10% of accounts receivable. 2 -a. After the adjusting entry is recorded in requirement 1 , what is the revised amount of operating income? 2-b. Will Willie get his salary bonus? 3. Willio instructs the accountant to record the adjusting entry for uncollectible accounts using 7% rather than 10% of accounts receivable. Now will Willie get his salary bonus? 4. By how much would total assets and operating income be misstated using the 7% amount? Complete this question by entering your answers in the tabs below. Record the adjusting entry for uncollectible accounts using the accountant's estimate of 10% of accounts receivable. (if no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
