At December 31, Gill Co. reported accounts receivable of $286,000 and an allowance

Gill Co.

The amount of the adjustment for uncollectible accounts would be:

$13,000

Explanation:

a) Data and Calculations:

Accounts Receivable = $286,000

Allowance for uncollectible accounts = $1,300 (credit balance)

Allowance should be = 5% of accounts receivable

= $286,000 * 5% = $14,300

The adjustment = $13,000 ($14,300 - $1,300)

b) The adjustment of $13,000 will bring the credit balance to a total of $14,300, which is the required allowance for the year.  The adjustment is to debit the Uncollectible Expense account with $13,000 and credit the Allowance for Uncollectible Accounts with $13,000.

A) Function: consumers want wearable technology with the latest and greatest functionality.

Explanation:

The VP of Marketing has directed you to search for a target market that values fitness technology functionality and are willing to pay for it.

You need people that workout constantly and for long periods of time. This type of clients really need high quality and durable products, so they are willing to pay for them. These guys and girls are not going to go around running and watching their cellphones, they are trying to improve their performance, not to worsen it. They are constantly looking for ways to be better athletes and train harder, and any help they can get is very valuable for them.