Chaz has an idea for a service business. it has worked well in other markets, and chaz sees
no reason why it should not work locally. the service involves renting dvds about colleges
and universities to high school students. the colleges chaz has contacted are all for it, and
the students he has talked to are excited about the idea as well. however, the three banks
from which he has tried to borrow money to set up his business are skeptical. they have all
turned him down for a loan.
what entrepreneurial characteristic should kick in here if chaz's business is going to
become a reality? why is that characteristic so important in this situation? why is it impor-
tant to entrepreneurs in general?

Colorado rocky cookie company offers credit terms to its customers. at the end of 2018, accounts receivable totaled $715,000. the allowance method is used to account for uncollectible accounts. the allowance for uncollectible accounts had a credit balance of $50,000 at the beginning of 2018 and $30,000 in receivables were written off during the year as uncollectible. also, $3,000 in cash was received in december from a customer whose account previously had been written off. the company estimates bad debts by applying a percentage of 15% to accounts receivable at the end of the year. 1. prepare journal entries to record the write-off of receivables, the collection of $3,000 for previously written off receivables, and the year-end adjusting entry for bad debt expense.2. how would accounts receivable be shown in the 2018 year-end balance sheet?