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Yakvenalex [24]
1 year ago
5

at the end of the first year of operations, gaur manufacturing had gross accounts receivable of $251,000. gaur's management esti

mates that 6% of the accounts will prove uncollectible. what journal entry should gaur record to establish an allowance for uncollectible accounts?
Business
1 answer:
Butoxors [25]1 year ago
8 0

The journal entry to establish an allowance for uncollectible accounts is as follows

Bad debt expense A/c Dr  $15,060

 To Allowance for doubtful debts  $15,060

(Being bad debt allowance recorded)

The bad debt expense is calculated as shown below, as 6% of the accounts are proven uncollectible.

$251,000x 6/100

$2510x 6

=$15,060

In order to make the proper posting, we debited the bad debt expense and credited the allowance for doubtful debts account.

A bad debt expense is recognized when a receivable is no longer collectable as a result of a customer's inability to pay an outstanding debt due to bankruptcy or other financial troubles.

To know more about bad debt  refer here:

brainly.com/question/28993708#

#SPJ4

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Answer and Explanation:

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So as per the given situation, the above represent the explanation and the same should be considered

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3 years ago
I GIVE BRAINLIEST! ASAP!!!!
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2 years ago
The​ __________ of an automobile​ manufacturer, such as​ porsche, mazda,​ toyota, or general​ motors, might be based on a unique
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3 years ago
Kaspar Industries expects credit sales for January, February, and March to be $202,100, $264,200, and $319,300, respectively. It
Wittaler [7]

Answer:

January $151,575

February $248,675

March $305,525

Explanation:

The computation of the cash collections is shown below:

January month

= January credit sales × month of sale collection percentage

= $202,100 × 75%

= $151,575

February month

= January credit sales × following month collection percentage + February credit sales  × month of sale collection percentage

= $202,100 × 25% + $264,200 × 75%

= $50,525 + $198,150

= $248,675

March month

= February credit sales × following month collection percentage + February credit sales  × month of sale collection percentage

=  $264,200 × 25%+ $319,300 × 75%

= $66,050 + $239,475

= $305,525

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2 years ago
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ikadub [295]

Answer:

D) Marginal utility of the last unit of each product consumed is the same.

Explanation:

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Utility is maximized when these marginal utilities per marginal dollar spent coincide.

Hope that helps.

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