Powell lighting was the first company to start selling led light bulbs in its country—a product that gained popularity among diverse groups. soon, other companies started to sell their own brands of led bulbs, thereby giving powell lighting ample competition. in response, powell lighting decided to limit its led light bulbs to outdoor models. however, it ensured that these models were the longest-lasting and lowest-priced on the market. with this innovation, powell lighting consistently outperformed its competitors for ten years. in this scenario, powell lighting maintained a through its innovative strategy.
a. balanced scorecard.
b. fiduciary responsibility.
c. consistent power position.
d. sustainable competitive advantage.

The manda panda company uses the allowance method to account for bad debts. at the beginning of 2018, the allowance account had a credit balance of $92,400. credit sales for 2018 totaled $3,190,000 and the year-end accounts receivable balance was $507,500. during this year, $88,500 in receivables were determined to be uncollectible. manda panda anticipates that 3% of all credit sales will ultimately become uncollectible. the fiscal year ends on december 31. required: 1. does this situation describe a loss contingency? 2. what is the bad debt expense that manda panda should report in its 2018 income statement? 3. prepare the appropriate journal entry to record the contingency. 4. complete the table below to calculate the net realizable value manda panda should report in its 2018 balance sheet?