c. Suppose a manger is interested in reporting the highest cumulative income from the project at any given point in time. Which method (if any) should the manager adopt? Is there any method(s) the manager should never adopt? What if the manager cares only about the overall income from the completed project? Question 2: Hook the Crook At a January 2019 meeting, the president of Hook the Crook Company announced the credit evaluation department was being disbanded because it had restricted the company's growth. The sales staff would now make credit decisions. By the end of the year, Hook the Crook had generated signicant gains in sales and the president was very pleased. The accounting department provided the following data: 2019 2018 Sales (all are on credit) $24,000,000 $8,000 ,000 Cost Of Goods Sold 21,000 ,000 7,000,000 Accounts Receivable 13,000 ,000 1,000,000 Allowance for bad debt, 12/31 ? 30 ,000 The $13,000,000 receivables balance was aged as follows: Amount Percentage expected Age of receivable to be collected Under 31 days $4,000,000 95% 3 1-60 days $3 ,500 ,000 90% 61-90 days $3,000,000 75% Over 90 days $2,500 ,000 50% $30,000 were written off during 2019 and the rest of the balance of accounts receivable from December 31, 2018 was collected. No accounts were written off for 2019 credit sales. Required: a. Estimate the amount of uncollectible accounts as of December 31, 2019 and find the bad debt expense for 2019. Provide the journal entry for recording the bad debt expense. 1). Why should a company record a bad debt expense during the current year, when it is going to realize a specic account is uncollectible only in the future (say next year)