Misk co. purchased the following securities during 20x7 to be classified as held-to-maturity securities, trading securities, or available-for-sale securities:

i. debt securities bought and held for the purposes of reselling in the near future.
ii. u. s. treasury bonds that misk intends and is able to hold to maturity.
iii. convertible preferred stock that misk does not intend to sell in the near future.

which of above securities purchased by misk should be classified as available-for-sale securities?

multiple choice

a. i and ii only
b. i and iii only
c. iii only
d. 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?