Answer:
The answer is C.
Explanation:
Credit sales is $6,000
Bad debt is 3% of net credit sales which is $180($6,000 x3%)
Creating allowance for doubtful debt entry is one of the prudent method and it tells us that some customers won't pay part of what they are owing. And it is also a contra account that offset bad debt.
According to the accounting rule, debit increases asset and expenses and vice-versa while credit decreases liability, equity, income and vice versa.
So we have have:
Dr Bad debt expense $180
Cr Allowance for Doubtful Accounts $180
Hello!
The answer is
C. How much a currency is worth when it's exchanged with another country's currency.
Good luck!
Answer:
Screening and evaluation
Explanation:
The seven steps in the new product development process are:
- New-product strategy development
- Idea Generation
- Screening and evaluation
: at this stage, ideas are filtered and funneled and you must separate only those truly worth pursuing.
- Business analysis
- Technical Development
- Market Testing
- Commercialization
Answer:
A.
Explanation:
Based on the information provided within the question it can be said that the statement that is mislabeled as a performance example is "The system must automatically generate an insurance claim form." This is the only answer provided that does not deal with performance but instead is dealing with insurance claims that do not affect performance at all. Therefore this is the answer.
Companies using the accrual concept of accounting to complete the measurement process at the year end through the recording of adjusting entries.
<h3>What is an accrual concept?</h3>
An accrual concept is one of the method which records the incomes at the time when it is earned or charges when it is incurred.
Adjusting entries are the entries recorded in the accounting books to close all the accounts at the year end. It helps in determining the correct amount of charges and revenues at the time of finalizing the accounting statements.
Therefore, the adjusting entries are used by the company to complete the measurement process while applying the accrual concept.
Learn more about the accrual concept in the related link:
brainly.com/question/17256489
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