Part 2 During August, total sales of $1,349,000 were recorded, all on credit. Sales returns and allowances totalled $23,000. Collections during the month were $1,169,000, which included the recovery of $2,000 from a customer account written off in a previous month. No accounts were written off during August. Tippleton Company changed its method of estimating bad debts to the balance sheet approach because the new accountant said it more accurately reflected uncollectible accounts. The resulting aging analysis determined total estimated uncollectible accounts at August 31 to be $15,000. Required: Prepare the August 31 adjusting entry to record estimated bad debts for August. View transaction list Journal entry worksheet 1 Record the estimate for uncollectible accounts. Note: Enter debits before credits. Date General Journal Debit Credit Aug 31

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing t…