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MatroZZZ [7]
2 years ago
10

Multiple Select Question Select all that apply Bad Debt Expense ______. (Check all that apply.) Multiple select question. should

exceed the revenue generated from incurring the cost is a cost of extending credit to customers is based on actual events and does not require estimation is an estimate
Business
1 answer:
Olegator [25]2 years ago
4 0

Bad Debt Expense is a cost of extending credit to customers is based on actual events and does not require estimation is an estimate.

  • When a receivable is no longer recoverable as a result of a customer's inability to pay an outstanding debt owing to bankruptcy or other financial issues, a bad debt expense is recorded.
  • Big Store stops paying its debts and fails to reimburse Company XYZ for goods valued at $100,000. Company labels the $100,000 as a bad debt because it has little faith that Big Store will ever make good on its obligations.
  • When a customer's repayment of previously granted credit is thought to be uncollectible and is therefore recorded as a charge off, a business incurs a bad debt expense.
  • Bad debt charges are categorized as operating costs and are typically listed under selling, general, and administrative costs on your company's income statement.

Thus this is the answer.

To learn more about Bad debt expense, refer:brainly.com/question/24871617

#SPJ4

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Sandhill Co. sells office equipment on July 31, 2022, for $22,430 cash. The office equipment originally cost $77,870 and as of J
ioda

Answer:

(a)

July 31, 2022

Dr. Depreciation Expense          $4,580

Cr. Accumulated Depreciation  $4,580

(b)

Dr. Cash                                      $22,430

Dr. Accumulated Depreciation $41,410

Dr. Loss on Sale of asset          $14,030

Cr. Cost                                       $77,870

Explanation:

Before sale of the asset, depreciation for the year should be recorded. To incorporate its effect on the sale.The depreciation for the 7 months of 2022 will be added to the accumulated depreciation account.

July 31, 2022

Accumulated Depreciation = $36,830 + $4,580 = $41,410

Net Loss is calculated by deducting the accumulated depreciation and cash received on the sale from the original cost of the asset.

5 0
4 years ago
A variable that likely is incorporated in the error term is: A. The fixed cost of production B. the variable cost of production
Serga [27]

Answer: Variable cost of production

Explanation:

Variable costs increase or decrease depending on a company's production volume; they rise as production increases and fall as production decreases. Examples of variable costs include the costs of raw materials and packaging.

Variable cost is the cost that covers through the production phase and changes as production is being finalized. This cost changes price variables depending on how much the company produces. The rise and fall of production determines their final position in pricing. Packaging and the various material cost are examples of variable cost.

4 0
4 years ago
Which of the following is a drawback of heavy timber frame construction compared to light frame construction?
Bad White [126]
Whats the answers???
4 0
3 years ago
In the cost formula (Y = a + bX) that is used to estimate the total manufacturing overhead cost for a given period, the letter "
IrinaVladis [17]

Answer:

a = Total Fixed Cost

Explanation:

Total Cost is the total expenditure incurred on production of goods & services.

Total Cost can be segmented into : Fixed Cost - on fixed factors (eg plant), not varying with level of output and Variable Cost - on variable factors (eg raw materials), directly varying with level of output.

In Total Cost Function : Y = a + bX ;  a = Constant Fixed Cost , bX = Variable cost varying with level of output X.

4 0
3 years ago
Describe some of the ways that trading takes place
mel-nik [20]
Waterways (ships and such), roads (trucks, bikes and such) and air (planes, helicopters, drones). hope this helps a little
7 0
3 years ago
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