If the federal reserve lowers the federal funds rate, what will happen to bank savings accounts?
a. the interest rate offered would decrease
b. the interest rate offered would increase
c. the interest rate will automatically be set to zero
d. the interest rate will remain the same

Acompany has $80,000 in outstanding accounts receivable and it uses the allowance method to account for uncollectible accounts. experience suggests that 6% of outstanding receivables are uncollectible. the current credit balance (before adjustments) in the allowance for doubtful accounts is $1,200. the journal entry to record the adjustment to the allowance account includes a debit to bad debts expense for $4,800. true or false