Assume the following information for Teal Mountain Corp.

Accounts receivable (beginning balance) $159,000
Allowance for doubtful accounts (beginning balance) 11,470
Net credit sales 944,000
Collections 906,000
Write-offs of accounts receivable 5,400
Collections of accounts previously written off 2,000

Uncollectible accounts are expected to be 8% of the ending balance in accounts receivable.

Required:
Prepare the entries to record sales and collections during the period.

The following pertains to smoke, inc.’s investment in debt securities: on december 31, year 3, smoke reclassified a security acquired during the year for $70,000. it had a $50,000 fair value when it was reclassified from trading to available-for-sale. an available-for-sale security costing $75,000, written down to $30,000 in year 2 because of an other-than-temporary impairment of fair value, had a $60,000 fair value on december 31, year 3. what is the net effect of the above items on smoke’s net income for the year ended december 31, year 3?

Identify at least 3 body language messages that project a positive attitude

Corrective action must be taken for a project when (a) actual progress to the planned progress shows the progress is ahead of schedule. (b) the technical specifications have been met. (c) the actual cost of the activities is less than the funds received for the work completed. (d) the actual progress is less than the planned progress.