Mattel Inc.’s 2018 financial statements show operating profit before tax of $1,168,103 thousand, net income of $903,944, provision for income taxes of $195,184 thousand and net nonoperating expense before tax of $68,975. Assume Mattel’s statutory tax rate for 2018 is 37%. Mattel’s 2018 tax shield is: A) $ 43,454thousand B) $ 25,521thousand C) $ 264,159thousand D) $ 238,638thousand E) None of the above

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?