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tia_tia [17]
2 years ago
5

What is the normal journal entry when writing-off an account as uncollectible under the allowance method?.

Business
1 answer:
kherson [118]2 years ago
5 0

The journal entry when writing off an account as uncollectible under the allowance method is:

Allowance for Doubtful Debts     ( Dr.)              xxxxx

Accounts Receivable       ( Cr.)                                                 xxxxx

The allowance technique involves putting aside a reserve for terrible debts that are expected in the future. The reserve is based on a percent of the income generated in a reporting length, possibly adjusted for the danger associated with positive clients.

The allowance technique is used to determine how an awful lot of money a commercial enterprise needs to set apart for future awful or unrecoverable customer debt. It factors in the price of the losses an organization expects from extending patron credit.

The allowance approach requires a small commercial enterprise to estimate at the cease of the 12 months how an awful lot awful debt they have got, while the direct write-off method we could owners write off horrific debt whenever they determine a patron might not pay an invoice.

Learn more about the allowance method here brainly.com/question/4636062

#SPJ4

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In a research proposal, which section comes first?
Amiraneli [1.4K]

Answer:

a. introduction

Explanation:

of a proposal begins with a capsule statement.

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3 years ago
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Which of the following will not create minimum contacts in a state sufficient to find personal jurisdiction on an out-of-state d
Maurinko [17]

Answer: A company maintains a website that provides information about its products and that provides an address or number that a customer can contact to obtain an order form to purchase products directly from the company.

Explanation:

With different states having varying laws but yet still sharing a lot of business interests, it is important that the states know when they can have jurisdiction over a person.

Minimum contacts is the solution and is used to determine whether an entity has sufficient contacts in a state to warrant jurisdiction over them.

Simply having a website that can be accessed by people in a state does not fall under the provisions required for minimum contact to be met so the courts in this state cannot have personal jurisdiction over this company.

7 0
3 years ago
In the perfectly competitive gadget industry there are 10 firms with identical costs given by C = 500 + 20q + q2, none of which
IgorC [24]

Answer:

The explanation is below

Explanation:

A.  Shutdown point is achieved when price equal AVC. when price lowers than the AVC, firm shutdown.

VC = q^2

AVC = q

So,

P = q is the shutdown point.

B.  For profit maximizing level of output,

P = MR = MC

500 = 20 + 2q

q = 240 units

So, profit maximization level of output = 240 units

C.  Firm level supply curve = MC curve above the shutdown point

Number of firms = 5

So,

Industry supply curve = 10*MC = 200+20Q

Industry supply curve = 200+20Q

It shows that MC curve above the shutdown point is supply curve.

4 0
3 years ago
Paulina believed that the new hires in her department were lazy for failing to make use of the company's expert software system,
Andrei [34K]

If the new hires had not been adequately trained to make use of the system. This is an example of fundamental attribution bias.

<h3>What is fundamental attribution bias?</h3>

Fundamental attribution bias  can be defined as the way in which a person judge another person without considering the situation factors.

Based on the giveing scenario Paulina is using fundamental attribution bias on the new employ by ignoring the reason why the new hire did not use the company's expert software system.

Therefore this is an example of fundamental attribution bias.

Learn more about fundamental attribution bias here:brainly.com/question/17109470

8 0
2 years ago
A company’s financial records at the end of the year included the following amounts: Cash $ 70,600 Accounts Receivable 28,600 Su
Artyom0805 [142]

Answer:

5678

Explanation:

45678

8 0
3 years ago
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