(Solved): all sections please Willie Cheetum is the CEO of Happy Foods, a distributor of produce to grocery st ...

Willie Cheetum is the CEO of Happy Foods, a distributor of produce to grocery store chains throughout the Midwest At the end of the year, the company's accounting manager provides Willie with the following information, before any adjustment: Willie's compensation contract states that if the company generates operating income of at least \( \$ 199.000 \), he will get a salary bonus early next year. Required: 1. Record the adjusting entry for uncollectible accounts using the accountant's estimate of \( 7 \% \) of accounts receivable 2-a. After the adjusting entry is recorded in requirement 1 , what is the revised amount of operating income? 2.b. Will Willie get his salary bonus? 3. Willie instructs the accountant to record the adjusting entry for uncollectible accounts using \( 4 \% \) rather than 796 of accocints receivable. Now will Willie get his salary bonus? 4. By how much would total assets and operating income be misstated using the \( 4 \% \) amount? Complete this question by entering your answers in the tabs below. Record the adjusting entry for uncollectible accounts uaing the accountant's estimate of \( 7 \% \) of accounts recelvable. (If nib hilntils