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2 years ago

The two methods of accounting for uncollectible receivables are the direct method and the __________ method.

Business

1 answer:

Rudiy272 years ago

6 0

The two methods of accounting for uncollectible receivables are the direct method and the <u>allowance</u> method.

The Financial Accounting Reserve Method refers to the bad debt process in which the estimated bad debt expense is recorded in the same accounting period as the sale. The provisioning method is used to adjust the value of accounts receivable shown on the balance sheet.

The direct depreciation method requires two separate postings to write off the irrecoverable account. Recognizing credit losses using the provisioning method reduces journal entries for recognizing certain charge-offs. Doubtful invoice deductions.

Under the allowance method, companies estimate the number of bad debts as a percentage of credit sales. Then apply that percentage to your credit sales when you get your revenue. Value adjustments correspond to income.

Disclaimer: Learn more about the allowance method here

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A vending machine's coin box contains nickels, dimes, and quarters. The total number of coins in the box is 284. The number of

solong [7]

Answer:

there are 59 nickels, 12 quarters, and 213 dimes

Explanation:

let n = nickels
let q = quarters
let d = dimes

first step:

d = 3 (n + q) = 3n + 3q

d + n + q = 284

0.10d + 0.05n + 0.25q = 27.25

second step:

3n + 3q + n + q = 284

0.10 (3n + 3q) + 0.5n + 0.25q = 27.25

third step:

4n + 4q = 284

0.3n + 0.3q + 0.05n + 0.25q = 27.25

fourth step:

n + q = 71

0.35n + 0.55q = 27.25

fifth step:

replace q = 71 - n

0.35n + 0.55(71 - n) = 27.25

sixth step:

0.35n + 39.05 - 0.55n = 27.25

seventh step:

11.8 = 0.2n

eighth step:

n = 59

q = 71 - 59 = 12

d = 284 - n - q = 284 - 59 - 12 = 213

6 0

3 years ago

Define foreclosure economics.

Kobotan [32]

Answer:

Foreclosure is the legal process by which a lender attempts to recover the amount owed on a defaulted loan by taking ownership of and selling the mortgaged property

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3 years ago

ABC Hospital invests $5,095,000 in a joint venture with a reputable oncology group and the hospital agrees to a 55% interest in

Vsevolod [243]

Answer:

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8 0

3 years ago

Matthew decides to buy expensive designer jeans. Less expensive jeans are available, but the added cost of the designer brand is

kicyunya [14]

Matthew decides to buy expensive designer jeans. Less expensive jeans are available, but the added cost of the designer brand is worth it to Matthew most likely because His preference is for designer labels, since the assertions made by the other manufacturers, which claim that designer trousers are less expensive, are illogical. This is further explained below.

Generally, payment is required before it can be obtained or completed.

In conclusion, Affluent designer jeans are Matthew's choice. There are cheaper jeans out there, but Matthew most certainly prefers designer labels since the arguments of the other manufacturers, who say that designer pants are less costly, are irrational.