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Mashcka [7]
2 years ago
4

The journal entry to record bad debt expense is made during the year in which it is determined that a particular receivable is u

ncollectible, regardless of the year of sale. True or false?.
Business
1 answer:
Ymorist [56]2 years ago
5 0

The journal entry to record bad debt expense is made during the year in which it is determined that a particular receivable is uncollectible, regardless of the year of sale.

The given statement is False.

What is a journal entry?

  • A journal entry is used to record a business transaction in the accounting records of a business. An accounting entry is usually recorded in the general ledger; alternatively, it may be recorded in a subsidiary ledger, which is then summarized and entered in the general ledger.
  • The general ledger is then used to create the financial statements of the business.
  • The logic behind journaling is to record each business transaction in at least two places (known as double-entry bookkeeping).
  • For example, when you generate a cash sale, it increases both the revenue account and the cash account. Or, if you purchase goods on account, it increases both the accounts payable account and the inventory account.

To learn more about journal entry, refer to:

brainly.com/question/20421012

#SPJ4

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Required information
Kaylis [27]

Answer:

Required information

[The following information applies to the questions displayed below.]

Suresh Co. expects its five departments to yield the following income for next year.

Dept. M Dept. N Dept. O Dept. P Dept. T Total

Sales $ 81,000 $ 43,000 $ 77,000 $ 62,000 $ 42,000 $ 305,000

Expenses Avoidable 16,800 44,800 20,600 21,000 50,400 153,600

Unavoidable 57,400 21,000 5,600 50,800 19,600 154,400 .

Explanation:

plz mera answer ko brainliest kar do...

8 0
3 years ago
Revolve Company is a price-taker and uses a target-pricing approach« on: September 24, 2015, 03:43:22 PM »Refer to the following
djyliett [7]

Answer: $17,209,000

Explanation:

Given that,

Production volume = 602,000 units per year

Market price = $32 per unit

Desired operating income = 15% of total assets

Total assets = $13,700,000

Total Income  = 15% of Total assets

                       = $13,700,000 × 15%

                       = $ 2,055,000

Total Sales  = Market price × Production volume

                    = $32 × 602,000

                   = $ 19,264,000

Target full product cost in total for the year  = Total Sales - Total Income

                                                                        = $ 9,264,000 - $2,055,000

                                                                        = $17,209,000

4 0
3 years ago
Let the inverse demand function and the cost function be given by P = 50 − 2Q cost function of firm 1: C1 = 10 + 2q1 cost functi
vovikov84 [41]

Answer: -c=+6q

Explanation:

3 0
3 years ago
Activity-Based Costing for a Service Business Sterling Hotel uses activity-based costing to determine the cost of servicing cust
Tatiana [17]

Answer:

Total allocated cost= $146.4

Explanation:

Giving the following information:

Julie Stone visited the hotel for a 6-night stay.

Julie had 3 meals in the hotel during the visit.

guest check-in= $8.40 per guest check-in

room cleaning= $21.00 per room cleaning

meal service= $4.00 per served meal

<u>To allocate costs based on the activity, we need to use the following formula:</u>

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

guest check-in= 8.40*1= 8.4

room cleaning= 21.00*6= 126

meal service= 4.00*3= 12

Total allocated cost= $146.4

3 0
3 years ago
when rival firms compete aggressively by trying to attract competitors' customers, this might be an indication of:
Kryger [21]

Answer:

Slow industry growth

Explanation:

Slow industry growth is the growth that shows the industry at a slow rate or no growth is there.

It could arise when the consumer does not opt for a high demand

In the given situation, it is mentioned that when competitive firms aggressively trying to attract the customers of competitors so this is an indication of the slow economic growth and hence, the same is to be considered

5 0
3 years ago
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