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You have started a business that has now been going for a couple of years. Due to the increased volume in sales, you have started noticing more bad debt and want to use the allowance method for estimating bad debt. Would you use the percentage of sales method or the percentage of accounts receivable method and why?
Marriott International, Inc., and Wyndham Worldwide Corporation are two major owners and managers of lodging and resort properties in the United States. Abstracted income statement information for the two companies is as follows for a recent year
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Identify where each of the items would be reported in the financial statements - Interest earned on investments in bonds.
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