CC Sunglasses started operations in 2017. During the year, there was $10,000 in sales, $8,000 was collected, therefore $2,000 remaining AR. On December 31, 2017, CC Sunglasses Co. estimates 7% of receivables may not be collected.
The journal entry to record the 2017 estimate for bad debts is ___.

The journal entries to record the 2017 estimate for bad debts is Debit Bad debt expense $140; Credit Allowance for doubtful accounts $140.

Explanation: Given that the amount in accounts receivable is $2,000, after the collections, CC Sunglasses Co. estimates that 7% of this amount may not be collected. Therefore, 7% of $2,000 is $140. And the accounting entries to recognize this bad debt expense is as provided in the Answer section above. However, the net balance in the accounts receivable would be $1,860 ($2,000 - $140), to show the realizable value as at December 31, 2017.

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.